Frequently Asked Questions

A Texas Veterans Loan or VA home loan has several benefits compared to conventional financing. These benefits include:

• 100% financing: no down payment or monthly mortgage insurance
• Competitive interest rates comparable or lower than conventional programs
• The seller can pay all of your normal closing costs, plus up to 4% of the home’s reasonable value in concessions (such as prepaid taxes and insurance, the VA funding fee, or paying off debts)
• Veterans with lower credit scores often get better rates with VA than they would with conventional financing
• VA Streamline Refinance (IRRRL) allows you to refinance to a lower rate without having to re-qualify

These two loan programs have a lot of similarities, however, the primary difference is the rates and closing cost.

Key differences include:

• A ½ percentage point discount on the Texas Vet loan for Veterans with a disability rating of 30% or greater.
• Texas Veteran loans can be originated under the guidelines for a VA Loan, FHA Loan or Conventional loan. In most cases it will be originated as a VA loan but in certain cases it may make sense to originate the loan as FHA or Conventional.

Texas Veteran and VA mortgages can be used to purchase most types of properties, including free standing single family homes, town houses and condominiums, modular homes, manufactured or mobile homes. Regardless of the type of property you purchase, VA Mortgages are only intended for personal home purchases that are going to be occupied by the Veteran and/or their immediate family.

If you are purchasing a property in Texas that needs improvements or repairs, you can utilize our VA Renovation Loan program. This loan allows you to do the entire loan at once and there would be no need for you to take out a second loan after you purchase or refinance.

The VA guarantees the loan for the lender in case the borrower defaults. This does not mean you are automatically qualified or entitled to a VA mortgage, you still need to qualify based on your income, assets, credit profile etc.

VA eligibility is dependent on whether you are on active duty, or have been discharged from the Military. There are different requirements depending on how long and when you served in the Military. As long as you are otherwise eligible, and are a Veteran living in Texas then you should be eligible for the Texas Veterans program.

With a Texas Veteran loan the answer is generally no: it’s for buying a home, with one exception. A separate construction loan can be refinanced into a Texas Vet loan once the home is built (a two-time close), and my team can do that permanent refinance. However with a VA Loan the answer is yes – you can use your eligibility to re-finance your home using a VA Refinance program.

If you currently have a Veterans Affairs Mortgage on your home you may be able to lower your interest rate and payments through a Streamline Re-Finance, also known as an IRRRL (Interest Rate Reduction Re-Finance Loan).

Being eligible for a VA loan through the VA or Texas Vet Land Board, and being qualified are different. Qualification requires that we assess your income, debts and credit history in order to approve you. We recommend getting pre-qualified before shopping for a home so you are well prepared when searching.

No, in fact it is better to get pre-qualified before you find a house you want to buy. The reason for this is through the pre-qualification process we will be able to tell you how much you are pre-qualified for, and that way you will know what price range of houses you should be looking at.

The process can vary depending on the circumstances of your home purchase. However, it is usually dependent on how quickly you can provide us the proper documentation required. As a rule of thumb, it is generally a good idea to give yourself 30-45 days from the time the home purchase contract is signed until the scheduled closing date.

A Certificate of Eligibility (COE) is a document issued to you by the Department of Veterans Affairs certifying that that you are eligible for the VA guarantee. You can request your COE online at VA.gov, or fill out VA Form 26-1880 and mail it to the regional loan center listed on the form.

However, the easiest way is for us as your lender to pull it through the Department of Veterans Affairs lenders portal. As a VA approved lender, we have access to lenders portal and can usually obtain your COE online in a matter of minutes.

Previous use of VA eligibility does not prevent you from obtaining a Veteran Mortgage; however there are a few differences. Depending on your situation your previous mortgage may need to be paid off before your eligibility can be restored. Please schedule a time to speak with us so we can access your certificate of eligibility and go over the details with you.

If the builder of your new home has financing for the construction and only requires a deposit from you, then once the home is built you can use your Veteran loan benefits to close on the purchase of your home. If construction financing is not available from the builder, we offer a VA construction loan that allows you to build and finance the construction and VA loan all in one.

Although many lenders do offer these programs, many community banks and credit unions do not offer them for various reasons. We offer both programs to Veterans! We will provide you a side-by-side comparison of both programs so you can make an informed decision.

Not necessarily, many local banks and credit unions are not approved lenders and therefore may try to discourage you from using your Veteran benefits. Also, the Department of Veterans Affairs approved appraiser will be a local appraiser who knows the market so there shouldn’t be issues with the appraised value of the property being too high or too low.

Interest rates on Texas Veteran Mortgages are set weekly by the Veteran Land Board. VA Loan interest rates fluctuate with financial market conditions just like conventional loans.

The funding fee is required by law and is charged by the Department of Veterans Affairs, not the lender. Usually the funding fee is added on to your loan amount and is not paid out of pocket by the Veteran borrower. The amount of the funding fee varies depending on whether the mortgage is the Veteran borrower’s first and/or if there is any down payment on the property and/or if it is a streamline refinance.

No, the Department of Veterans Affairs Program does not require a down payment and allows for 100% financing of the purchase price of the home, without mortgage insurance. The Texas Veteran loan can be a 100% financing as well when underwritten as a VA loan which it most commonly is (as opposed to a conventional of FHA loan).

Closing costs on can vary just like they do on conventional loans. The closing costs will be dependent on underwriting and appraisal fees, closing agent’s fees, and any state or regulatory fees. You can get a customized quote by clicking on “Get A Quote” and we will get you a detailed estimate of both programs.

The maximum amount is $832,750 on a Texas Vet Loan however on a Federal VA home loan, there is no loan limit. If you currently are utilizing your entitlement and want to purchase another home using your VA benefit, then there maybe a down payment required.

Yes, but who can be a co-borrower is somewhat limited. Generally speaking only a spouse of the Veteran, or another Veteran can be co-borrowers on a Texas Vet or Department of Veterans Affairs mortgage.

In order to obtain a Texas Vet or Veterans Affairs Mortgage, you will need to provide several types of documents regarding both Military service and personal income. These documents include but are not limited to:

Statement of Service (if on active duty);

A copy of your DD214 (if the you have been discharged/separated from the Military);

Past 2 years W2 statements;

One month of most recent LES or pay stubs;

Two months of most recent bank statements.

Texas Vet and Veteran Affairs loan approvals are determined mainly by the borrower’s credit history in the past 12 months, not by a minimum credit score. So if you have had some credit issues in the past, but have been on time with your payments recently we may be able to get you approved. If your credit needs work, we can show you what to fix and how long it should take. We have no minimum credit score on Texas Vet loans or on VA purchase and refinance loans. VA construction loans start at a 620 credit score, and VA renovation loans require a 600. For more information, check our detailed guide on ‘How to get a VA loan with credit‘.

Yes, but there are conditions. If you’re in a Chapter 13 bankruptcy, you may qualify after 12 months of on-time plan payments with trustee approval. If the bankruptcy was a Chapter 7 bankruptcy then it must be 24 months from the discharge date. Also, you must have a relatively clean credit history since the bankruptcy with no late payments or collection accounts.

There is not any truth to this statement. The appraisers are randomly selected by the VA from a pool of registered appraisers in the area of the home purchase. This is done to protect the Veteran to ensure home is not being purchased for over market value and that the home meets certain safety and quality guidelines.

The 2026 VA county loan limit in Texas is $832,750.