Texas VA Lender
Veterans Affairs (VA) Loans – Frequently Asked Questions
Incredible Loan Program for Those Who Served
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 insured 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 with sufficient entitlement.*
What property types qualify for VA loans?
- 1-4 Family residential properties;
- VA and FHA-approved condos;
- Townhomes.
VA does not have an acreage limitation; however, VA requires comparable sales to be on like acreage to meet appraisal guidelines.
What’s the minimum and maximum amount a person can borrow?
With sufficient entitlement, there is no maximum loan amount for home financing with VA loan.
Do VA loans take longer to close than other loan programs?
Fast closings available. LoanPeople offers 2-week closings for most home loans. Some transactions may take longer to close.
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.