Frequently asked
What is the VA funding fee?
Quick answer
A one-time fee charged instead of private mortgage insurance, which can be financed into the loan amount rather than paid out of pocket. The percentage depends on down payment size, whether it's a first or subsequent use of the VA benefit, and loan type; veterans receiving VA disability compensation are exempt. Confirm the current fee for your situation with your lender.
Related questions
What credit score do I need for a VA loan in Texas?
The VA itself doesn't set a minimum credit score — that's determined by individual lenders, and requirements vary. VA loans are generally known for more flexible underwriting than conventional loans, but a specific credit score requirement should be confirmed directly with a VA-experienced lender rather than assumed.
Is there a VA loan limit in New Braunfels?
For veterans with full entitlement, no — VA loan limits were removed for borrowers with full entitlement starting with loans originated in 2020. Veterans with reduced entitlement (typically from an existing VA loan) may still have a limit tied to county conforming loan limits; a VA-experienced lender can confirm your specific entitlement status.
Do I need a down payment with a VA loan?
In most cases, no — VA loans are one of the few remaining zero-down-payment mortgage options. A down payment isn't required by the VA, though a lender could have its own overlays in specific circumstances.
Can I use a VA loan more than once?
Yes — VA loan entitlement can be used multiple times over a veteran's life, including having more than one VA loan active simultaneously in some circumstances (such as a PCS move). How much entitlement remains available depends on your specific loan history, which a VA-experienced lender can pull and explain.
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