Texas VA Lender

Veterans Affairs (VA) Loans – Frequently Asked Questions

The Best Loan Program for Men & Women Who Serve

VA Loans offer 100% Financing up to $417,000 for military personnel & veterans.* Every day, military personnel and veterans enter the real estate market, unaware there is a financing option exclusively for them. 620 is the credit score minimum for qualified borrowers seeking a VA loan with The Leaman Team.

Call The Leaman Team today: (800) 301-3405.

There is no cost to apply for a VA loan with The Leaman Team. Great rates, low fees, close on time.
 

Who qualifies for a VA loan?

• Veterans

 

• Active-duty service members

 

• Reservists & National Guard who have served or currently serve on active duty.

 

What benefits are there to VA loans?

• 100% Financing for purchase or refinance*,

 

• 30-year fixed rate or adjustable-rate loans,

 

• Credit score requirements start below 680,

 

• Available to veterans & their spouses.

 

Other Benefits Include:

• No monthly mortgage premiums,

 

• Appraisal for the property’s value.

 

What’s the difference between a VA loan and an FHA loan?

• FHA loans are guaranteed by the Federal Housing Administration & require a minimum 3.5% down payment.*

 

• VA loans are guaranteed by the Veterans Administration & offer 100% financing.* Borrowers must have served in the armed forces for a specific time period.

 

What property types qualify for VA loans?

• 1-4 Family residential properties

 

• VA or FHA-approved condos

 

• Townhomes

 

 
Farm residences are ineligible for VA loans; however, there is no maximum acreage for a property and funds can be applied to home construction, repair, alteration & improvement.

 

What’s the minimum and maximum amount a person can borrow?

The maximum VA loan amount with no down payment is $417,000. With a down-payment, qualified borrowers can obtain loan amounts beyond $417,000. In specified “high-cost” areas, that loan limit can peak at $1,000,000.*

 

Do VA loans take longer to close than other loan programs?

The Leaman Team can close your VA loan in 30 days or less.

 

There is no cost to apply for a Texas VA loan with The Leaman Team. If you or someone you know has questions, please contact our expert VA mortgage team today: (800) 301-3405.