VA HOME LOANS

VA Loans.
A Benefit You've Earned.

VA loans offer powerful home financing benefits for eligible veterans, active-duty service members, and certain surviving spouses. With no down payment required in many cases, no monthly mortgage insurance, and flexible guidelines, a VA loan can be one of the strongest paths to homeownership in Texas.

At a Glance

0% DOWN

Eligible borrowers may be able to purchase a home with no down payment, subject to VA and lender requirements.

NO MONTHLY PMI

VA loans do not require monthly private mortgage insurance, which can help reduce the monthly housing payment.

FLEXIBLE GUIDELINES

VA financing offers flexible qualification guidelines designed specifically for eligible military borrowers.

The Basics

A VA loan is a mortgage backed by the U.S. Department of Veterans Affairs and available to eligible veterans, active-duty service members, and certain surviving spouses. VA financing was created to make homeownership more accessible for those who have served.

Good to Know

VA loans can often provide 100% financing, but you don't have to be a first-time homebuyer to use your VA benefit. Eligible borrowers may be able to use VA financing more than once.

Who Can Qualify for a VA Loan?

VA eligibility begins with your military service, but loan approval also considers your income, debts, credit history, occupancy, and the property being financed.

Credit Profile

The VA does not establish one universal minimum credit score, although individual lenders may have their own credit requirements.

Income & Ability to Repay

Your qualifying income, monthly obligations, and residual income are reviewed to determine whether the proposed mortgage payment is affordable.

VA Eligibility

Your military service must meet VA eligibility requirements. A Certificate of Eligibility helps verify your eligibility and available entitlement.

Primary Residence

VA purchase financing is generally intended for a home you plan to occupy as your primary residence and the property must meet applicable VA requirements.

Benefits

For eligible military borrowers, VA financing offers advantages that are difficult to match with many other mortgage programs.

No Down Payment

Eligible borrowers may be able to finance up to 100% of the home's eligible value or purchase price, subject to VA and lender requirements.

No Monthly PMI

VA loans do not require monthly private mortgage insurance, even when financing most or all of the home's purchase price.

Competitive Financing

The VA guaranty can help eligible borrowers access competitive mortgage financing with flexible program guidelines.

Reusable Benefit

VA home loan eligibility isn't necessarily a one-time benefit. Eligible borrowers may be able to use VA financing again when entitlement requirements are met.

LOAN COMPARISON

Compare
Your Options

If you're eligible for VA financing, it should be part of your loan comparison. We'll compare the payment, cash needed at closing, mortgage insurance, fees, and overall financing costs to help you make an informed decision.

Clear, transparent lending structures designed to help you secure the ideal loan for your situation.

Loan Program Comparison

VA vs. Conventional: Compare down payment, mortgage insurance, interest rate, closing costs, and total monthly payment. VA's no-monthly-PMI benefit can make a meaningful difference.

VA vs. FHA: Both programs offer flexible qualification options, but eligible VA borrowers may benefit from no required down payment and no monthly mortgage insurance.

VA Funding Fee: Many VA loans include a one-time VA funding fee. Some eligible borrowers are exempt, and the fee can often be financed into the loan.

FAQ

Have questions about using your VA home loan benefit? Here are a few of the questions Texas military homebuyers ask us most often.

Do VA loans really require no down payment?

Eligible borrowers may be able to finance a home with no down payment, subject to VA eligibility, entitlement, property value, lender requirements, and the terms of the transaction.

Does a VA loan require mortgage insurance?

VA loans do not require monthly private mortgage insurance. However, many VA borrowers pay a one-time VA funding fee unless they qualify for an exemption.

What is the VA funding fee?

The VA funding fee is a one-time charge that helps support the VA home loan program. The amount can vary based on factors such as the type of loan, down payment, and prior use of the VA benefit. Certain eligible borrowers are exempt from the fee.

Can I use my VA loan benefit more than once?

Yes. VA home loan eligibility can often be used more than once. Depending on your circumstances, entitlement may be restored after a previous VA loan is paid off, and some borrowers may have remaining entitlement available.

Can I use a VA loan for an investment property or vacation home?

VA purchase loans are generally intended for a primary residence. They are not designed to finance a property purchased solely as an investment or vacation home.

Ready to Use Your VA Benefit?

You've earned a valuable home loan benefit. Our Texas mortgage team can help you understand your VA eligibility, compare your financing options, and guide you through the process from pre-approval to closing.

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Notice To Texas Loan Applicants: Consumers wishing to file a complaint against a mortgage banker, or a licensed mortgage banker residential mortgage loan originator, should complete and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, TX 78705. Complaint forms and instructions may be obtained from the department’s website at www.sml.texas.gov

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A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed mortgage banker residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.sml.texas.gov