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Texas VA Lender

Veterans Affairs (VA) Loans – Frequently Asked Questions

Incredible Loan Program for Those Who Served

VA Loan VA Loans offer 100% Financing options 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: (512) 710-1400.

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 with sufficient entitlement*;
  • 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.

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 for qualified borrowers.*

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 $416,300. With a down-payment, qualified borrowers can obtain loan amounts beyond $424,100. In specified “high-cost” areas, that loan limit can peak much higher.

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

3-Week closings available.

There is no cost to apply for a Texas VA loan with Leaman Team | LoanPeople. If you or someone you know has questions, please contact our expert VA mortgage team today: (512) 710-1400.

Loan Amount: $185,000
Loan Term: 360 Months
Interest Rate: 3.75
Annual Percentage Rate (APR): 3.80