Starkey Mortgage in Corpus Christ knows how to best help veterans take advantage of all the homebuying programs available through the Veterans Administration and Veterans Land Board.
With two air bases, a Coast Guard station and an Army Depot, the Coastal Bend is a vital hub of military families looking for a place to call home. Whether retiring or relocating, veterans have several ways to find their dream homes with lower interest rates, no down payment and lower closing costs. The best way to avoid missing any opportunities for a better buy is to turn to the experts at Starkey Mortgage Co. in Corpus Christi.
“We close a lot of VA loans, but many of our veterans are not aware of the programs offered through the Veterans Land Board,” said Ricki Whittle, vice president and branch manager of Starkey Mortgage in Corpus Christi.“It’s exciting to be able to educate them about the programs offered by the Veterans Land Board and explain the potential benefit of an even lower interest rate.”
The Veterans Land Board sets its own rates once a week. Anyone who is a Texas resident and has served 90 days of active duty is potentially eligible for the programs offered by the Veterans Land Board, including lower interest rates than might otherwise be available. Veterans with at least 30 percent service-related disability can enjoy an even lower interest rate. “Typically, a borrower’s credit score has an impact on their interest rate. A nice feature of a Veterans Land Board loan is that the interest rate is the same no matter what your credit score is,” Whittle said.
Someone with great credit might not need the benefits of the land board, but that’s where Starkey Mortgage comes in. As a mortgage banker, Starkey is able to work closely with its clients to come up with the best solutions for affordable home ownership.
“We review the options and structure the loan to meet the veteran’s needs,” Whittle said.
Something unique to a VA loan is about $1,200 of a borrower’s closing costs are designated by the Veterans Administration as non-allowable fees. The veteran is not allowed to pay those fees. Rather than requiring the seller to pay, Starkey Mortgage decided several years ago to waive the non-allowable fees. “It is our way of saying ‘thank you’ to the veteran for his service to our country,” Whittle continued.
Because most VA loans do not require a down payment, veterans can potentially move into a house with no cash out of pocket if the seller agrees to pay his closing costs — a scenario that is fairly common in the Corpus Christi area.
And while many consumers believe buyers who have “no stake in the game” — meaning they made little or no down payment and paid minimal or no closing costs — represent a greater risk of foreclosure, Whittle has found it to be just the opposite with veterans.
“Veterans historically have the best track record for avoiding foreclosure,” Whittle said. “They take home ownership very seriously.” Which is another reason Starkey Mortgage takes its veteran clients seriously as well.
The close attention to detail and knowledge of the best available programs carries over to conventional homebuyers. Whether a veteran or not, Starkey Mortgage can help you buy the perfect home for you and your family. The first step is to call and start the conversation.
“We will discuss your situation and start structuring a loan that best fits your needs,” Whittle said. “We look at credit and income and determine what sales range you should be considering. Part of buying the perfect home is getting pre-qualified for a loan, and that starts by talking to me.”
Starkey Mortgage Company is located at 5151 Flynn Parkway #312. Call (361) 980-1960 for more information. Visit the website at RickiWhittle.com for testimonials and details about more lending products.
