What is the “VA guarantee” on a VA Loan? - valoanstexas.com

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What is the “VA guarantee” on a VA Loan?

0
08 Aug 2012
by Shirley

The Department of Veterans Affairs guarantees the loan for the lender in case the borrower defaults. This does not mean you are automatically qualified or entitled to a Veteran Affairs Mortgage, you still need to qualify based on your income, assets, credit profile etc. It also doesn’t mean if you default the guarantee will pay the mortgage for you and you can stay in the home. Under circumstances of default, the mortgage still goes through the same foreclosure process as conventional programs.

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The company name, Guaranteed Rate, should not suggest to a consumer that Guaranteed Rate provides an interest rate guarantee prior to an interest rate lock.

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Guaranteed Rate, Inc. is a private corporation organized under the laws of the State of Delaware. It has no affiliation with the US Dept. of Housing and Urban Development, the US Dept. of Veterans Affairs, the US Dept. of Agriculture, Texas Veteran Lands Board or any other government agency.


*Interest rates are set weekly by the Texas Veterans Land Board and are subject to change based on when you lock your interest rate. Annual Percentage Rate (APR) represents the true yearly cost of your loan, including any fees or costs in addition to the actual interest you pay to the lender. Click HERE for an example.
Shirley Mueller
Sr. VP of Veteran Lending
Specializing in Texas Vet & VA Loans
NMLS ID: 336103

12117 Bee Caves Rd Suite 120
Austin, TX 78738

Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact Guaranteed Rate for current rates and for more information.

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