Texas VA Loans

Eligible Texas veterans and military members can enjoy a fantastic low-interest loan with little or no money down through the VA home loan program! Purchase your dream home or refinance your existing home with a great interest rate when you borrow money through the VA program.

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Our Texas VA Loan Options

Whether you want to refinance an existing loan into a VA loan or purchase a new primary residence, we’ll find a VA lender who meets your needs. 

Texas VA Mortgage Process

Our team can match qualified veterans and service members to private lenders who work with the VA loan program.

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Achieve Affordable Home Ownership with Texas VA Loans

The Department of Veterans Affairs works with private mortgage companies to administer the VA loan program, which offers low-cost mortgages to assist Texas veterans and active duty personnel in purchasing a home. Unlike FHA loans, which are also government-backed loans, these mortgages have no down payment requirements, and they also have lower interest rates and more favorable terms. 

Texas VA Loan Requirements

Only eligible veterans and active service members can use VA loans under the legislature created by the GI Bill after World War II. To qualify, you must obtain a Certificate of Eligibility from the VA, which shows that you have the requisite military service and discharge status necessary for the program. Beyond this, you must also meet the following requirements. 

VA loans can only be used to purchase a home used as a primary residence. There are no income requirements, though lenders may impose a debt-to-income ratio restriction. 

Generally, you need a credit score of at least 620. However, we understand that you may have a slightly lower credit score. We can go down to 500 for a VA loan, so it’s important to contact us to discuss your situation. While VA loans don’t require private mortgage insurance, you must pay closing costs and a funding fee, which helps other veterans access home loans. 

Lastly, only a conventional loan is eligible for a cash-out refinance in the Lone Star State. You can only use a VA IRRRL refinance on a VA home loan.

VA Loan Assistance Programs in Texas

Even with a veteran home loan, a home purchase is still a daunting financial prospect. Thankfully, many programs are available for military personnel to aid in the home-buying process or to perform home repairs on existing homes.

The Texas Veterans Land Board (VLB) offers the only program of its kind in the nation that enables veterans to borrow up to $150,000 to purchase land with a 30-year fixed-rate loan.

Additionally, the VLB runs the Veterans Housing Assistance Program, which offers up to $766,550 on a fixed-rate mortgage with loan terms ranging from 15 to 30 years. This must be used on a single-family attached property or, if a multi-unit property, one that has been built in the last five years.

Finally, VLB offers home improvement loans with an interest rate below the rate index score and no down payment required. You can access up to $50,000.00 with a 2—to 20-year term.

Why Choose Arnaiz Mortgage for Your Texas VA Loan Needs?

We’re committed to helping veterans utilize their VA entitlement to purchase the home of their dreams. 

Arnaiz Mortgage is built on a foundation of respect for our clients and a belief that forming long-lasting relationships is critical to the mortgage process. Our team of mortgage professionals will take the time to understand your personal financial goals and then match you to lenders that best suit your specific borrowing profile.

We seek out the most competitive rates on your behalf, serving as a bridge between you and your lender. Our familiarity with the VA home loan process enables us to guide you through the entire loan process from start to finish, answering any questions you may have along the way. 

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Frequently asked questions about Texas VA Loans

  • How much of a VA loan can I get in Texas?

    If this is your first time using your VA entitlement, you do not have a loan limit; the amount you can borrow depends on your credit profile and income. However, if you have a prior VA mortgage, then you will be restricted by the conforming loan limit in your specific county.

  • How do you qualify for a vet loan?

    To qualify, you must first prove that you are eligible by securing a Certificate of Eligibility. This letter from the VA will show that you served for at least 90 days of active duty and that, if you are a veteran, you did not have a dishonorable discharge.

  • What are the VA requirements for Texas?

    Other than the Certificate of Eligibility, you will typically require a 620 credit score, though some lenders may accept lower than this. Most lenders will also require a debt-to-income ratio of lower than 43% and no bankrupcies within the last two to four years.

  • Is the Texas vet loan the same as a VA loan?

    While these have many similarities, including being guaranteed by the VA, the vet loan program is a statewide program administered by the Veterans Land Board. The interest rate for a vet loan is set by the VLB and changes weekly; additionally, a veteran with a service-connected disability is eligible for a discounted rate.

  • Is there a VA loan limit in Texas?

    If this is your first time taking your entitlement, then you don’t have a loan limit. However, veterans who have already purchased one home with a VA loan have a partial entitlement. This means that they can typically only borrow up to the county loan limit set by the Federal Housing Finance Agency for their county.

  • What is the minimum credit score for a VA loan in Texas?

    While some lenders will accept a credit score as low as 540, most expect a score of 620 or higher. However, here at Anaiz Mortgage, we understand you may have a lower credit score. That’s why we can offer loans to people with a credit score as low as 500. Our experts will work with you to understand your situation.  

  • Can you get cash out on a VA loan in Texas?

    Unfortunately, under the unique state laws, a veteran loan is not eligible for a cash-out refinance. If you want to pursue a cash-out refinance, you must refinance your mortgage into a conventional loan instead.

  • What is the 210-day rule for VA loans?

    The 210-day rule is the seasoning period before you can refinance using a VA IRRRL refinance. During this time, you must continue making regular payments, as if you miss a payment, you may not be able to refinance.

  • What is the 50a6 rule in Texas?

    Section (50)(a)(6) of the state constitution prohibits cash-out refinancing of government-backed loans; you can only seek a rate and term refinance. It also sets restrictions on waiting periods, loan-to-value ratios, and lending amounts.

  • Can you get equity on a VA loan in Texas?

    As with any other mortgage, you will build equity the longer that you make payments; however, it’s more difficult to leverage this. State law prohibits home equity lines of credit, cash-out refinances, and home equity loans for government-backed mortgage products.

  • Does my spouse have to be on my VA loan in Texas?

    No, you do not need to put your spouse on your mortgage. It’s also important to note that unless your spouse is also a veteran, they cannot apply for a VA product on their own without you as a co-signer.

  • What does 100% VA disability entitle you to in Texas?

    If you have a 100% disability rating, then you may be able to claim special property exemptions on your residence. This includes an exemption of the total appraised value of your home, which significantly reduces your property taxes.

  • Are there specific VA loan programs available in Texas for first-time homebuyers?

    The Department of Housing and Community Affairs offers the My First Texas Home program, which enables you to get a 30-year, fixed-rate VA mortgage with 5% down payment assistance. You will only need to repay the amount when you refinance, sell the property, or pay off your mortgage.