Texas VA Lender

Veterans Affairs (VA) Loans – Frequently Asked Questions

VA SPECIAL – 2017 – NO LENDER FEES

PrimeLending is waiving all lender fees on all new VA Loans in TX, AZ & NM.*
Active duty, honorably discharged and retired service persons are eligible if borrower meets basic qualifying criteria for a VA home loan.
*All lender closing costs such as origination, processing, underwriting, and closing will be waived. Borrower is still responsible for third party fees such as VA funding fee, title, and appraisal.
TIME FRAME: VA Loan Special is effective for all loans locked after February 1, 2017 and continues for minimum of 90 days.

The Best Loan Program for Men & Women Who Serve

VA Loan Austin VA Loans offer 100% Financing up to $424,100 for military personnel & veterans.* Every day, military personnel and veterans enter the real estate market, unaware there is a financing option exclusively for them.

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

There is no cost to apply for a VA loan with 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;
  • You may qualify for a VA loan with less than perfect credit;
  • 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 and require a minimum 3.5% down payment.*
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  • VA loans are guaranteed by the Veterans Administration and 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 and 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 $424,100. With a down-payment, qualified borrowers can obtain loan amounts beyond $424,100. 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?

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

 

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

*Assumptions