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VA Loan

The Veterans Administration (VA) helps service members, veterans, and eligible surviving spouses become homeowners. VA home loans are guaranteed by the VA, enabling TexasLending.com to provide you with more favorable terms.

VA loans are one of the best loans offered today. Here are some advantages to going with a VA home loan.

  • No downpayment as long as the sales price does not exceed the appraised value.
  • No private mortgage insurance premium requirements on loans over 80% loan-to-value.
  • Lower closing costs: the VA restricts certain fees that are customary on other loan types.
  • The seller can pay up to 4% of the sales price, plus customary loan costs.
  • You can roll in the cost to improve your home by installing energy-related features or making energy efficient improvements up to $6,000 at the time of purchase.
  • You can reuse the benefit. You do not need to be a first-time homebuyer.

Qualifying for a VA loan is easy. You must have satisfactory credit, qualifying income, and a valid Certificate of Eligibility (COE), and the property must be owner-occupied. The VA does not set a cap on how much you can borrow to finance your home. However, there are limits on the amount of liability the VA can assume. These loan limits can vary by county, and this can affect the amount of money we can lend. To learn more about your VA loan and how much you qualify for, click below to be connected with a VA loan specialist today.

VA Loan
Minimum FICO
Credit Score
620
Minimum
Down Payment
0%
Maximum
Loan To Value
100%*
Maximum
Debt To Income
41%*
Exceptions to 50%
Mortgage
Insurance
No
Years Since
Bankruptcy
2
Years Since
Foreclosure
2
Years Since
Short Sale
2
Special
Qualification
Requirements
Must be U.S. Veteran
VA Loan
Minimum FICO
Credit Score
:
620
Minimum
Down Payment
:
0%
Maximum
Loan To Value
:
100%*
Maximum
Debt To Income
:
41%*
Exceptions to 50%
Mortgage
Insurance
:
No
Years Since
Bankruptcy
:
2
Years Since
Foreclosure
:
2
Years Since
Short Sale
:
2
Special
Qualification
Requirements
:
Must be U.S. Veteran