Texas Veteran & VA Mortgage Loans

Two Programs with Great Benefits for Veterans Living in Texas

The Texas Vet program usually has slightly better interest rates and could will be a better option for a Veteran purchasing a home in Texas. The VA Loans Texas Team will explain the differences in greater detail and provide you with a Federal VA Mortgage and a Texas Vet estimate so you can decide on the best loan solution for you. Here are some of the highlights features of these benefit loan programs:

Texas Veteran Loans

• Interest rates set by the Texas Veterans Land Board; highly competitive rates; published on the right-hand side of this website weekly.
• Can be used for purchases of personal homes only; no refinances, second homes or investment property.
• Loan amounts up to 726,200
• Can be underwritten as a VA Loan, or as a conventional or FHA loan.
• Veterans with a 30% or greater service-connected disability receive an additional ½% (0.5%) interest rate discount, and the VA funding fee is waived (when underwritten as a VA Loan)
• No down payment required / 100% financing (when underwritten as a VA Loan)
• No Private Mortgage Insurance (when underwritten as a VA Loan)
• No pre-payment penalties
• Only available to Veterans living in Texas

VA Mortgages

• Market-based interest rates usually comparable or better than conventional loans
• Can be used for personal home purchases or refinancing an existing conventional, FHA or VA mortgage.
• No VA max loan amount on the federal VA program
• VA funding fee is waived for Veterans with a 10% or greater service-connected disability
• No down payment required / 100% financing
• No PMI (private mortgage insurance)
• No pre-payment penalties
• Available nationwide