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Buying near Sheppard AFB with a VA loan: what to know first

· 5 min read

Couple sitting among moving boxes in their new home

With Sheppard Air Force Base right here, a lot of the buyers I talk with are service members, veterans and military families. If that's you, the VA home loan is one of the best benefits you've earned. Here's what to know before you start looking.

Who can use it

VA loans are available to eligible veterans, active-duty service members, some National Guard and Reserve members, and some surviving spouses. Your lender can pull your Certificate of Eligibility (COE) for you, and that's usually the first step.

Why it's such a strong loan

  • No down payment for most eligible buyers with full entitlement.
  • No monthly mortgage insurance, which can save a meaningful amount every month compared with other low-down-payment loans.
  • A one-time VA funding fee that can usually be rolled into the loan. Veterans who receive VA compensation for a service-connected disability are generally exempt.
  • Sellers can contribute toward your closing costs, which is common and worth negotiating.

Things that trip people up

  • It has to be your home. VA loans are for a primary residence, and you need to plan to live in it after closing. Ask your lender about their timing requirements.
  • The VA appraisal has standards. The home has to meet the VA's minimum property requirements. A true fixer-upper may not qualify without repairs first.
  • Budget for the full payment. Texas has no state income tax, but property taxes are high. Budget for taxes and insurance, not only principal and interest. File your homestead exemption after you move in.
  • Check disabled veteran exemptions. Texas offers property tax exemptions for disabled veterans based on disability rating. The Wichita Appraisal District can tell you what applies.

Think one PCS ahead

Orders change. Many military homeowners here keep the house when they PCS and rent it out, and that can be a smart way to build equity. If that might be you:

  • Buy a home that would also rent well: practical layout, durable finishes, good location.
  • Talk with your lender about how keeping one VA loan affects your entitlement for the next purchase.
  • Plan who will manage it while you're away. That's where Wortham Property Management, where I work, comes in.
Buy the home you want to live in, but pick one you'd be glad to keep as a rental.

Other programs worth asking about

The Texas Veterans Land Board has its own home loan program for Texas veterans and service members, and Texas down payment assistance programs may help with closing costs. A VA-approved lender can compare them with you. You can also see the options on my home buyer page.

If you're stationed at Sheppard or heading this way, reach out. I'm a Realtor® with 940 Realty, LLC, and I'm glad to help you find the right fit, even from out of state.

General information only. Eligibility, fees and program terms are set by the VA and your lender. Confirm details with a VA-approved lender.