What is a Veterans Administration (VA) mortgage?
A VA (Veterans Administration) mortgage is a mortgage program administered through the Veterans Administration that is a benefit of being an active or retired member of the United States military. VA loans have reduced closing costs and require low to no down payments, much like an FHA mortgage. VA mortgages are funded in part by the VA, though they are serviced through conventional lenders who work with VA loans.
Texas VA Mortgage
The Texas Veterans Housing Assistance program is sponsored and administered by the Texas Veterans Land Board. It provides Texas Veteran's home loans at special interest rates. It is available for veterans and active military personnel who meet certain Texas residence requirements. Texas Vet loans are underwritten as either a VA loan or as a conventional loan. The standard VA Funding Fee applies to loans using VA.
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