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 $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?
- 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.*
- 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;
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.