VA Loan and Texas Vet Loan: The Basics

The Texas Vet Home Loan Program

Compare to a VA Loan ↓

This program is often referred to as a Texas Vet Loan. It is available to eligible and qualified Veterans residing in Texas, seeking to purchase a home as their primary residence. Rates are established by the Texas Veterans Land Board (VLB), and are updated each week. Veterans with a VA disability rating and surviving spouses often qualify for a rate reduction of 50 basis points.

Veterans can choose either a 15 or 30-year term, and no down payment is required. The maximum loan amount for a Texas Vet Home Loan is $484,350.

Home Purchase with the Texas Veteran Home Loan Program

Veterans who qualify for this program have the opportunity to purchase a home with little or no down payment, at what are often unbeatable rates. The home must meet the following requirements to be eligible for a Texas Vet Loan:

  • The home must be located in the state of Texas.
  • The Veteran must be purchasing the home to be their primary residence.
  • Eligible property types are single family attached or detached, townhomes, condos, or homes within a planned unit development.
  • New construction home are allowed, but must meet the EPA’s ENERGY STAR® rating guidelines, and must be ENERGY STAR® labeled and certified OR…
  • A HERS (The home energy rating system) index score of 75 or less, and must have an energy rating certificate documenting the score.

Land & Home Improvement Loans

We do not offer these loans. Veterans must go through the Texas Veterans Land Board (VLB). To contact the VLB directly, call 800-252-8387 or visit their web portal by clicking on the link above.

The VA Guaranteed Loan In Texas

Compare to a Texas Vet Loan ↑

A VA Guaranteed Loan shares many of the same features and benefits of a Texas Vet Home Loan. Just like the Texas Veteran Land Board program, the VA Loan Program is made through banks and private lenders. As a division of Benchmark Mortgage, we have originated hundreds of VA loans for our Veterans living in Texas.

A VA loan offers many benefits to eligible veterans and active-duty personnel residing in the state of Texas. Among the biggest benefit is the fact that the VA guarantees 25% of the mortgage against any losses that are incurred if the borrower defaults.

This can be a huge benefit in that borrowers can get very favorable rates, along with no down payment requirement on a VA loan for loan amounts up to $484,350. In addition, unlike other programs such as Conventional or FHA, there is no monthly private mortgage insurance (PMI), or monthly insurance premium (MIP). This can literally save our borrowers hundreds of dollars a month.

If the loan amount of the home you are interested in exceeds a purchase price of $484,350 higher loan amounts are available to eligible and qualified Texas Veterans. Some down payment for VA loans exceeding $484,350 will be required. The amount of down payment needed is based upon the difference between the purchase price and the 2019 standard loan limit of $484,350 for all Texas counties. Generally, a down payment equal to 25% of the difference will be required.

We now offer VA loans down to a 580 FICO for eligible and qualified veterans or active-duty personnel.

Get Started Today With Your VA Loan Request!

If you would like to speak with a loan professional about the prequalification process, please call our toll-free number at 866-704-2826 or click on the button below and complete our quick-and-easy online form and a member of our staff will contact you right away to discuss your options.

We welcome the opportunity to assist you.