Latest news with #HerringBank
Time Business News
5 days ago
- Business
- Time Business News
Why VA Loans in Texas Are Gaining Momentum in a Shifting Real Estate Market
As the U.S. housing market recalibrates in response to inflation, tightening credit, and economic uncertainty, one mortgage product is rising in visibility and impact: the VA home loan. Long considered a niche offering, VA loans are now central to homeownership conversations—especially in military-rich states like Texas. This rise in relevance isn't just anecdotal; it's a reflection of deep demographic trends, evolving lending practices, and a renewed focus on financial resilience. For lenders like Herring Bank—who are leaning into the needs of veterans and active-duty service members—this presents both a mission and a market opportunity. Texas is home to more than 1.5 million veterans and boasts some of the fastest-growing metro areas in the country. Cities like Dallas, Houston, San Antonio, and Corpus Christi are popular destinations not just for job seekers and business owners, but for veterans seeking quality of life, affordable housing, and economic opportunity. With its low property tax rates, business-friendly policies, and military installations like Fort Cavazos and Lackland Air Force Base, Texas is uniquely positioned to meet veteran homebuyer demand. But the question becomes: can lenders adapt fast enough to serve this audience well? The core features of VA loans haven't changed much since the program's inception under the GI Bill in 1944. But in today's market, these features are more valuable than ever: 0% Down Payment : In an environment where many buyers struggle to save 10–20% for a down payment, VA loans offer the only mainstream mortgage that requires no upfront equity. : In an environment where many buyers struggle to save 10–20% for a down payment, VA loans offer the only mainstream mortgage that requires no upfront equity. No PMI (Private Mortgage Insurance) : For conventional buyers putting less than 20% down, PMI can add hundreds to a monthly payment. VA loans eliminate this burden entirely. : For conventional buyers putting less than 20% down, PMI can add hundreds to a monthly payment. VA loans eliminate this burden entirely. Competitive Interest Rates : Because they're backed by the federal government, VA loans often come with lower interest rates than comparable conventional products. : Because they're backed by the federal government, VA loans often come with lower interest rates than comparable conventional products. Flexible Credit Requirements: VA loans are often more forgiving of short credit histories or moderate FICO scores, as long as borrowers have steady income. These advantages are compounded in high-cost housing markets, making them especially impactful in major Texas metros. Unlike national mortgage platforms that treat VA loans as just another checkbox, Herring Bank has taken a regional and relationship-based approach. By focusing on Texas communities and providing in-house underwriting, the bank offers a level of speed and personalization that's hard to find in today's highly automated lending environment. The VA home loan team at Herring Bank specializes in walking veterans through every step of the process—from obtaining the Certificate of Eligibility (COE) to navigating appraisals and closing. This hands-on guidance is especially valuable for first-time homebuyers and recently separated service members. From a macroeconomic perspective, VA loans help close the wealth gap between civilian and veteran populations. While many federal programs focus on education and employment, homeownership remains one of the most reliable generators of generational wealth. Veterans using VA loans tend to: Buy earlier in life in life Retain their homes longer Refinance at better rates Avoid delinquency and foreclosure at lower rates than their civilian counterparts This isn't just good for the veterans—it's good for the economy. Stable, long-term homeownership supports stronger communities, increases local tax revenue, and fuels small business growth. According to data from the Department of Veterans Affairs, VA loan usage is at an all-time high. Yet a surprising number of eligible borrowers remain unaware of their options. Common misconceptions include: 'I already used my VA loan once; I can't use it again.' 'It's only for first-time buyers.' 'It's a slow process that's harder to get approved for.' These myths persist despite widespread eligibility and flexible reuse provisions. Lenders and real estate professionals have a role to play in correcting these misunderstandings—and so do financial media outlets and business influencers. National lenders often miss the nuance of local Texas housing markets. Factors like: Rural property eligibility Texas homestead exemptions County-level property tax structures Flood zone insurance overlays …can all affect a veteran's loan process and closing timeline. Herring Bank, by focusing on metro-level support—like in Corpus Christi or San Antonio—ensures that every borrower gets the guidance they need, in the context of their local housing and employment environment. As digital lending tools become more mainstream, expect a wave of innovation in how VA loans are processed and approved. Pre-approval apps, e-closings, and automated COE verification are already speeding up turnaround times for veterans. The next frontier? Hybrid mortgage models that combine VA benefits with renewable energy financing, modular home construction, or co-investment down payment assistance. These are early-stage concepts—but forward-thinking institutions like Herring Bank are well positioned to lead the charge. The Texas housing market is not without its challenges. Affordability, inventory constraints, and rate volatility all continue to pressure buyers. But for veterans, VA loans remain a rare win—both in terms of financial value and legal protection. Banks that understand the unique needs of the veteran community—like Herring Bank—are proving that smart lending can also be service-oriented. And in an era where trust is currency, that's a competitive edge worth watching. Interested in learning more about how VA loans can help you buy a home in Texas? Explore Herring Bank's city-specific programs: Dallas VA Loans Houston VA Loans Corpus Christi VA Loans TIME BUSINESS NEWS
Globe and Mail
07-04-2025
- Business
- Globe and Mail
Herring Bank Expands VA Home Loan Offerings Across Texas, Colorado, and Oklahoma
Herring Bank has expanded its VA home loan offerings to better support veterans, active-duty service members, and their families in Texas, Colorado, and Oklahoma. This initiative enhances access to government-backed mortgage benefits such as no down payment, no PMI, and competitive rates. With dedicated VA loan specialists, streamlined applications, and refinancing options through IRRRL, Herring Bank aims to make homeownership more accessible for military families. Amarillo, TX - Apr 7, 2025 - Herring Bank has announced the expansion of its VA home loan offerings to better serve veterans, active-duty military members, and their families across Texas, Colorado, and Oklahoma. The move enhances accessibility to flexible, low-cost mortgage solutions tailored specifically for those who have served the country. Veterans Affairs (VA) loans are government-backed mortgage options that offer significant advantages, including no down payment requirements, no private mortgage insurance (PMI), and competitive interest rates. With this strategic expansion, Herring Bank is positioning itself as a leading resource for VA loans in the region. 'Helping veterans achieve the dream of homeownership is one of the most rewarding parts of what we do,' said Chris Godwin, Vice President at Herring Bank. 'By expanding our VA loan services, we're reaffirming our commitment to those who've served — making it easier for them to access affordable, trustworthy lending solutions tailored to their needs.' With a legacy dating back over a century, Herring Bank has long prioritized community-focused financial services. The enhanced VA mortgage offerings will include a streamlined application process, a VA loan specialist, and support for refinancing existing VA loans through Interest Rate Reduction Refinance Loans (IRRRL). Available now, the expanded program is designed to support both first-time homebuyers and seasoned homeowners, offering guidance throughout every step of the mortgage journey. Eligible borrowers can learn more or apply directly through the bank's dedicated VA loan page at This move comes at a time when rising interest rates and competitive housing markets are putting pressure on homebuyers. By strengthening its VA lending services, Herring Bank is helping to ease that burden for qualified military families, particularly in high-demand areas across Texas, Colorado, and Oklahoma. To explore Herring Bank's full range of VA home loan options, visit Herring Bank's VA Loans or contact a local mortgage specialist today. About Herring Bank Founded in 1899, Herring Bank is a full-service financial institution providing personal, commercial, and mortgage banking services. With locations across Texas, Colorado, and Oklahoma, Herring Bank is dedicated to delivering personalized financial solutions with a strong focus on community and customer care. Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
Associated Press
26-03-2025
- Business
- Associated Press
Herring Bank Enhances Access to SBA and Commercial Hotel Loans Across Texas, Oklahoma, and Colorado
Herring Bank announces expanded access to SBA 504, SBA 7(a), and commercial hotel loans across Texas, Oklahoma, and Colorado—empowering hotel developers with tailored financing solutions. Herring Bank has expanded its hospitality lending services across Texas, Oklahoma, and Colorado, offering a full range of hotel financing solutions including SBA 504 and 7(a) loans, conventional loans, refinancing, new construction loans, and CMBS financing. With decades of industry experience, the bank's dedicated hospitality lending team provides tailored support to hotel developers and operators at every stage—from acquisition to portfolio growth. Amarillo, TX - March 26, 2025 - Herring Bank, a leading provider of commercial financing solutions, is strengthening its commitment to the hospitality industry by expanding access to a comprehensive suite of hotel loans and hospitality lending programs across Texas, Oklahoma, and Colorado. The bank offers a full range of financing options including SBA 504 loans, SBA 7(a) loans, conventional loans, refinancing, new construction loans, and CMBS (Commercial Mortgage-Backed Securities) to meet the diverse needs of hotel developers and operators. With a strong track record of supporting entrepreneurs in the hospitality sector, Herring Bank is positioning itself as a key financing partner for hoteliers navigating today's market. ' We're very optimistic about the hospitality sector's growth, especially across the Texas-Oklahoma-Colorado region, ' said Andy Nenstiel, President of Herring Bank. ' Our team brings decades of industry experience, and we're proud to offer tailored hotel loan solutions that help owners and developers approach new opportunities with confidence. ' The bank's specialized hospitality lending team works closely with clients through every phase of the financing process, from acquisition and ground-up construction to refinancing and portfolio expansion. This hands-on approach has helped numerous clients structure deals that align with their investment goals while maximizing long-term value. Expanding Hospitality Lending Across the Southwest Herring Bank's presence in the region is reinforced by dedicated online resources tailored for local markets: These platforms offer insights into loan qualifications, program comparisons, and current market trends, helping hotel investors make informed decisions. As travel demand rebounds and regional markets continue to evolve, Herring Bank remains committed to providing flexible, competitive financing for hotels, motels, and resort developments. About Herring Bank Founded in 1899, Herring Bank is a privately-owned financial institution with a legacy of empowering local communities through personalized banking and lending solutions. With a strong focus on commercial finance, Herring Bank's hospitality lending division provides expert guidance and funding for hotel acquisitions, construction, refinancing, and renovations. To learn more about hotel loans and financing options, visit Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements. Media Contact
