A Veterans Guide to VA Loans in Lewisville, Texas
Lewisville, Texas, is a thriving city located just north of Dallas, offering veterans an excellent place to call home.
With its affordable housing options, beautiful parks, and strong sense of community, Lewisville provides an ideal environment for veterans to make the most of their VA loan benefits.
This guide will cover VA loan eligibility, how to obtain your Certificate of Eligibility (COE), local veteran resources, and the best neighborhoods for veterans in Lewisville.
VA Loan Eligibility in Lewisville
Veterans, active-duty service members, and surviving spouses must meet one or more of the following criteria to qualify for a VA loan in Lewisville:
- Active Duty Service Members: At least 90 consecutive days of active service during wartime or 181 days during peacetime.
- Veterans: A minimum of 90 days of active duty during wartime or 181 days during peacetime.
- National Guard and Reservists: At least six years of service or 90 days of active service.
- Surviving Spouses: Eligible if the veteran died in service or from a service-related disability, and the spouse has not remarried.
How to Obtain Your Certificate of Eligibility (COE)
The Certificate of Eligibility (COE) is the first step in securing a VA loan. Veterans can obtain their COE in one of the following ways:
- Online Application: Apply through the VA’s eBenefits portal for a fast and convenient process.
- Mail-in Application: Submit VA Form 26-1880 by mail to your nearest regional loan center.
- Lender Assistance: Many lenders can help veterans obtain their COE during the loan application process.
Key Benefits of VA Loans in Lewisville
VA loans offer veterans several unique advantages, making homeownership more accessible and affordable:
- No Down Payment: VA loans allow eligible veterans to finance 100% of their home’s value, eliminating the need for a down payment.
- No Private Mortgage Insurance (PMI): VA loans do not require PMI, saving veterans additional monthly costs.
- Lower Interest Rates: VA loans typically offer lower interest rates than conventional loans.
- Flexible Credit Requirements: Veterans with lower credit scores can still qualify, thanks to the VA’s more lenient credit standards.
- Limits on Closing Costs: The VA restricts the amount veterans can be charged for closing costs, enhancing affordability.
- No Prepayment Penalty: VA loans allow veterans to pay off their mortgage early without penalties.
- Assumable Loans: VA loans are assumable, meaning they can be transferred to another eligible buyer, making the home easier to sell.
Comparison of Housing Prices in Lewisville vs. Nearby Cities
| City | Median Home Price | Cost of Living Index | Population |
|---|---|---|---|
| Lewisville | $420,000 | 92.3 | 110,000 |
| Dallas | $425,000 | 96.1 | 1,350,000 |
| Denton | $375,000 | 91.2 | 141,000 |
| Flower Mound | $490,000 | 98.5 | 79,000 |
| Carrollton | $460,000 | 95.3 | 140,000 |
Best Neighborhoods for Veterans in Lewisville
Lewisville offers several veteran-friendly neighborhoods that provide affordable housing, excellent schools, and easy access to local amenities:
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Castle Hills: A master-planned community with a variety of housing options, parks, and shopping centers.
Median Home Price: $475,000 -
Vista Ridge Estates: Known for its proximity to great schools, parks, and shopping, this neighborhood is ideal for families.
Median Home Price: $450,000 -
The Highlands: Offers quiet streets, spacious homes, and access to nearby parks and recreational facilities.
Median Home Price: $420,000 -
Valley Vista: A family-friendly neighborhood with affordable homes and excellent schools.
Median Home Price: $400,000 -
Timber Creek: Known for its tree-lined streets and close-knit community, Timber Creek is a great option for veterans seeking a peaceful environment.
Median Home Price: $435,000
Local Veteran Assistance Programs in Lewisville
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Denton County Veterans Services
Provides assistance with VA benefits, claims processing, and access to local resources for veterans.
Contact: (940) 349-2950
Website: Denton County Veterans Services -
Texas Veterans Land Board (TVLB) Housing Assistance Program
Offers low-interest loans specifically for Texas veterans to purchase homes and land.
Contact: (800) 252-8387
Website: Texas Veterans Land Board -
Lewisville Housing Assistance Program
Assists veterans and low-income homebuyers with down payment and closing cost support.
Contact: (972) 219-3455
Website: Lewisville Housing Services
Employment and Career Resources for Veterans
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North Central Texas College Veterans Services
Provides career guidance, job placement, and academic counseling for veterans.
Contact: (940) 668-7731
Website: NCTC Veterans Services -
Texas Veterans Commission Employment Services
Assists veterans with job searches, resume building, and career training.
Contact: (512) 463-6564
Website: Texas Veterans Commission
Healthcare and Mental Health Support for Veterans
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Denton VA Outpatient Clinic
Offers primary care, mental health services, and other healthcare support for veterans in the region.
Contact: (940) 891-6350
Website: Denton VA Clinic -
Collin County Vet Center
Provides counseling, mental health services, and family support for veterans and their families.
Contact: (214) 361-5896
Website: Collin County Vet Center
Conclusion
With its affordable housing, strong community, and extensive veteran resources, Lewisville, Texas, is a great place for veterans to settle and use their VA loan benefits. Veterans can find family-friendly neighborhoods, excellent schools, and plenty of amenities to suit their lifestyle. Whether you’re looking for a new home or local support, Lewisville offers everything veterans need to thrive.