VA Mortgage
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Before getting into the details, it is important to discuss “What VA loans actually are?” A Texas VA home loan in simple terms is a mortgage loan which has been designed specifically for service members. This type of loan is issued by the approved lenders, and the U.S. Department of Veterans Affairs (VA) guarantees the loan. This program was created in 1944 to help returning service members buy homes without the need for great credit or any down payment.

Texas Veterans Loans might look the same as traditional home loans, it is true that like all other loans VA mortgages require considerable details, information and needs to go through approval procedures, but apart from that, there is a vast difference between the two options. We will be covering the major differences between the two options in this very article.

Down payment calculator

You should know this fact that in the case of conventional loans one typically pays 20% down payment to secure a home loan, and this is the very reason because of which a number of people can’t utilize this very option. However, you may be surprised to know that Texas VA Home Loans offer  0% down home loans by using your VA benefit.


Private Mortgage Insurance or PMI is one of the requirements that borrowers have to pay for if they finance more than 80% of their property’s value. Increasing monthly expenses for the borrowers. VA loans are backed by the government, and therefore one doesn’t have to buy PMI. However, there is a VA funding fee which may be waived if the veteran has any type of disability rating.

Interest rates

In case of Texas veterans loans lenders have a greater degree of safety, and thus VA loans are available at great interest rates. However, without government backing, traditional home loans are available at less competitive interest rates.

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