Some top producing Texas Realtors have never even touched a VA loan.
Not here in the Fort Hood area.
By far, the VA loan is the most prevalent loan type, making up over half of the transactions in the area. The next closest method of payment was cash deals, comprising 19% of the market.
2015 Buyer Financing Method Used
Only 3 documented loan assumptions took place in a year with over 3000 transactions, due to the consistently low interest rates throughout 2015. As the Fed raises rates and mortgage interest rates are expected to return to historical norms, however, look for loan assumptions to become nearly as commonplace as any other type of financing.
The main takeaway for Fort Hood buyers is to use a local lender. It’s usually good advice to look for a local lender, but especially so in a market like Fort Hood’s when using a VA loan because local lenders are extremely familiar with the VA loan, unlike national lenders or lenders from other markets. Additionally, you are more likely to find lenders who are also Tex Vet eligible in addition to the VA loan if you are qualified to take advantage of those savings, too.View Recommended Local Lenders