Texas lender's one-time close program offers qualifying veterans new construction loans with no down-payment.

Dallas, TX -- (ReleaseWire) -- 09/15/2014 --The VA Home Loan program helps those who have served our country to more affordably purchase a home.

VA loans offer qualifying military veterans and service personnel access to mortgages with no money down, competitive interest rates, and do not require the buyer to pay private mortgage insurance. As a result, veterans may save thousands at closing and hundreds of dollars every month through this program.

However, it has been difficult for military veterans to build a new home while taking advantage of the VA loan program's benefits. Because new construction entails higher risk than the purchase of an existing home, most lenders today do not finance new construction as part of a permanent mortgage. Typically, new construction requires a borrower to get separate loans for lot purchase, construction, and a permanent mortgage when the home is completed. Only the permanent mortgage can be completed through the VA loan program, so veterans incur down-payment and closing costs on the initial loans – not to mention the headache of going through the loan process multiple times.

"We talk to lots of veterans who have dreamed for years of buying a lot and building their own home, just the way they want it. After all they've done for our country, we think they deserve to be able to do that. So we worked with our partners to come up with a program that could make that happen," explained Jay Hurst, founder and president of Hurst Lending & Insurance, which operates a special website at http://texasvetloan.com to explain the mortgage options the company offers to Texas vets.

As a result, Hurst Lending & Insurance now offers a “one-time close” financing arrangement that allows qualifying Texas veterans to wrap lot purchase and construction into a single permanent mortgage loan under the VA loan program.

"It's really hard for someone who's been deployed for years to put together a large down-payment," remarked Chris Jandrain, Vice President, who works with hundreds of veterans every year in the company's San Antonio branch. "With a one-time close loan, veterans can build a new home without needing a down-payment. Very few lenders in Texas are offering something like this, so we're excited."

With new residential construction booming throughout Texas, Hurst Lending and Insurance expects the program to be very popular, as it allows veterans to take full advantage of all of the benefits of the VA home loan program while building their new home.

About Hurst Lending and Insurance
Hurst Lending & Insurance provides a one-stop shop for mortgage financing, realtor referral, and insurance services throughout the state of Texas. Founded in 2006 and currently ranked at #93 on Texas A&M’s Aggie 100 list of fastest growing Aggie-owned businesses, Hurst Lending & Insurance helps hundreds of veterans and other consumers every year with their mortgage and insurance needs. A relationship-based approach has been the foundation of Hurst’s growth, with 70% of the company’s business coming from repeat or referred clients