Today isn’t a sales day. If you served, thank you — from me, from my team, and from a lot of families in Dallas–Fort Worth who sleep easier because of what you did. I hope the day finds you with people who matter to you.
That said, I’d be doing you a disservice if I didn’t say one thing while I have your attention: the VA home loan is the most under-used benefit we see in this office. Every month I meet veterans in Fort Worth, Arlington, Garland and Mesquite who are renting, or who got a conventional loan with mortgage insurance, because nobody ever walked them through what they earned. So here’s the walk-through — short, with real numbers.
What the benefit is, in plain English
- 0% down. No down payment required, on any price your income supports — there’s no VA loan limit if you have full entitlement.
- No monthly mortgage insurance. Ever. A conventional loan with a small down payment carries PMI; FHA carries it for the life of the loan. VA doesn’t.
- A lower rate. VA rates run below conventional almost every day of the year. This week: 6.90% VA vs. 7.30% conventional on a 30-year fixed (daily index as of Nov 10, tracked on my rates page).
- The seller can pay your closing costs — all of them — plus up to 4% in extra concessions. In a market where DFW sellers are negotiating again, that’s leverage.
- Easier credit. Most VA lenders go down to a 580–620 score; we work the lower end of that.
- No prepayment penalty, and the loan is assumable — a 6.90% VA loan is something a future buyer may pay you a premium to take over.
- Reusable. You can use it more than once, and even hold two VA loans at the same time in some cases.
The one cost that’s VA-specific is the funding fee (2.15% on a first use with 0% down; 3.3% after). It can be rolled into the loan — and it’s waived entirely if you receive VA disability compensation, which is a lot of the veterans I meet.
The numbers on a $400,000 home in Fort Worth
| VA, 0% down | Conventional, 3% down | |
|---|---|---|
| Cash for down payment | $0 | $12,000 |
| Rate (this week) | 6.90% | 7.30% |
| Loan amount | $408,600 (fee rolled in) | $388,000 |
| Principal & interest | $2,691/mo | $2,660/mo |
| Mortgage insurance | $0 | ~$250/mo |
| Total P&I + MI | $2,691/mo | $2,910/mo |
Same house, $219 less per month and $12,000 less out of pocket — and if you have a disability rating, the funding fee disappears and the VA payment drops to about $2,634. Taxes and insurance are extra on both sides.
Three things veterans in DFW get wrong (through no fault of their own)
- “I used it once, so it’s gone.” No. Entitlement restores when you sell and pay off the loan, and partial entitlement often lets you buy again while keeping the first home.
- “VA loans are slow and sellers hate them.” That was true in 2012. Today a VA purchase closes in the same 25–30 days as conventional, and the VA appraisal is no longer the deal-killer agents remember. We educate the listing agent when we need to.
- “I’m Guard/Reserve, so I don’t qualify.” Six years of Guard or Reserve service (or 90 days active duty under Title 10) generally qualifies. Surviving spouses of service members who died in service or from a service-connected disability may qualify too. We pull your Certificate of Eligibility in minutes.
Refinancing? If you already have a VA loan from the 3% days, sit tight. If you have a conventional loan with PMI, a VA cash-out or a VA purchase on your next home may erase the PMI and lower the rate at the same time.
🎯 The Néstor Caussade Team can help
If you’re buying, building, flipping or refinancing anywhere in Dallas–Fort Worth or across Texas, this is what we do all day. DFW Mortgage Pros — The Néstor Caussade Team is DFW’s authority on construction loans, fix & flip and rehab lending for investors, and the go-to team for first-time buyers who want 0% down with up to $70K to renovate their own home — and for veterans who want their VA benefit explained once, properly. Thirteen years of closing the deals other lenders turn down, in English, Spanish and ASL. Free consultations on buying, investing, refinancing and lowering your rate — especially if you’ve been told no somewhere else.
Bottom line
- VA this week: 6.90% vs. 7.30% conventional — 0% down, no mortgage insurance, seller can pay closing costs
- $400K Fort Worth home: ~$219/month less than conventional with 3% down, and $12,000 less cash
- Funding fee is waived with a VA disability rating
- Guard, Reserve and many surviving spouses qualify; the benefit is reusable
- If you served and you’re renting in DFW, the math says you probably shouldn’t be
Happy Veterans Day. See what you qualify for in 2 minutes — no credit pull — or text me at 817-697-4281 with “VA” and I’ll pull your Certificate of Eligibility and run your real numbers. Hablo español.
Rates and programs shown are examples, change without notice and are not a commitment to lend. All loans subject to credit approval. VA eligibility is determined by the Department of Veterans Affairs. NMLS #1538512 · NXT Mortgage, a division of NEXA Mortgage, LLC, NMLS #1660690. Equal Housing Opportunity.
