1st Home Buyer Exercising VA Loan
Just over 32 years ago Mr. & Mrs. Rolando Castro, first-time homebuyers, purchased a new Ray Ellison home. Using the Veteran’s Assistance financing program in conjunction with the Texas Veterans Housing Assistance Program, the Castros were the first homebuyers in the state to close their loan under this program.
On January 30th, 1984 a closing ceremony took place in Austin with Governor Mark White and Land Commissioner Garry Mauro. San Antonians Rolando and Mireya Castro made history as the first to receive a Texas Veterans Housing Assistance loan. Ray Ellison, chairman of the board of Ray Ellison Industries, Inc., was also on hand to congratulate the new homeowners.
Fast forward 32 years and the Castros were finally ready to sell their history-making home. Jane Bash, REALTOR® at Coldwell Banker D’Ann Harper, REALTORS® Stone Oak Sales Office brought us this story. Bash currently represents the couple who completely remodeled this home prior to listing it. In an ironic series of events, the new home owners set to close on this home will also be using the VA Loan program. Approved by Texas voters in November 1984, veterans can combine their $20,000 state loan as a down payment with their eligibility for a VA guaranteed loan and do not have to make a down payment or buy mortgage insurance.
For information on how you can take advantage of the Veterans Housing Assistance program contact:
Jane Bash, REALTOR®, CHMS, CRA, GRI