Comparison of Plano Housing Prices vs. Other DFW Cities

City	Median Home Price (2024)	Cost of Living Index	Population
Plano	$450,000	96.7	290,000
Frisco	$475,000	98.5	225,000
Southlake	$650,000	110.2	32,000
McKinney	$380,000	94.8	210,000
Allen	$400,000	95.3	106,000

VA Loan Limits and Eligibility

For veterans purchasing a home in Plano, the VA loan limit for 2024 is set at $766,500 for Collin County. This limit allows veterans to finance up to this amount without requiring a down payment.

Veterans who wish to purchase a home exceeding this limit can still use their VA benefits but will need to make a down payment on the amount over $766,500.

Eligibility Requirements

To qualify for a VA loan in Plano, veterans must meet specific service requirements, which include:

• Active-duty service members with at least 90 continuous days of service.
• Veterans who served the required minimum number of active-duty days during wartime or peacetime.
• National Guard and Reserve members with at least six years of service or 90 days of active service.
• Surviving spouses of veterans who died in the line of duty or due to a service-related disability.

Benefits of Using a VA Loan in Plano

• No Down Payment: VA loans eliminate the need for a traditional down payment, making it easier for veterans to afford a home.
• No Private Mortgage Insurance (PMI): Save money each month by avoiding PMI, which is typically required for most conventional loans with less than 20% down.
• Competitive Interest Rates: VA loans often have lower interest rates compared to conventional loans, leading to significant savings over the life of the loan.
• Flexible Credit Requirements: Veterans with lower credit scores can still qualify for a VA loan, thanks to more lenient credit standards.
• No Prepayment Penalties: VA loans do not have prepayment penalties, allowing veterans to pay off their loans early without incurring extra fees.

Benefits of VA Loans vs. Conventional Loans

Feature	VA Loans	Conventional Loans
Down Payment	No down payment required	5% – 20%
PMI	Not required	Required if down payment <20%
Interest Rates	Typically lower	Varies based on credit
Minimum Credit Score	None (Lenders prefer 620+)	620+
Funding Fee	Required (2.3% for first-time use)	None
Prepayment Penalty	None	May have penalties

Top Veteran-Friendly Neighborhoods in Plano

Plano offers a variety of neighborhoods that are popular among veterans for their affordability, amenities, and proximity to veteran resources. Here are some of the best neighborhoods in Plano for veterans using their VA loan benefits:

Haggard Farm

• • Family-friendly neighborhood with highly rated schools and a close-knit community atmosphere. It offers spacious homes and easy access to parks and shopping centers.
  • Median Home Price: $475,000

Willow Bend

• • Known for its beautiful tree-lined streets, Willow Bend is a sought-after neighborhood offering upscale homes and proximity to golf courses and country clubs.
  • Median Home Price: $500,000

West Plano

• • Offers a mix of single-family homes and new developments. The area is close to corporate headquarters like Toyota and JPMorgan Chase, making it ideal for veterans seeking job opportunities.
  • Median Home Price: $480,000

Park Forest

• • A more affordable option with mid-century homes and easy access to medical centers and schools, making it a great choice for retired veterans.
  • Median Home Price: $360,000

Russell Creek

• • Offers a suburban feel with new construction homes, top-rated schools, and a variety of parks and recreational activities.
  • Median Home Price: $420,000

Local Plano Veteran Assistance Programs

Local Plano Veteran Assistance Programs provide comprehensive support for veterans and their families, offering resources such as housing assistance, career development, healthcare services, and educational opportunities.

Housing Assistance Programs

These programs offer veterans support in finding affordable housing, homebuyer assistance, and housing repairs.

1. Texas Veterans Land Board (TVLB) Housing Assistance Program
The Texas Veterans Land Board offers several housing-related assistance programs, including the Veterans Housing Assistance Program (VHAP) and Veterans Land Program. These provide low-interest loans for veterans to purchase homes or land.

• Contact: (800) 252-8387
• Website: Texas Veterans Land Board

2. City of Plano Homebuyer Assistance Program
This program provides down payment and closing cost assistance to low- and moderate-income first-time homebuyers, including veterans. The program offers up to $10,000 in assistance based on eligibility and available funds.

• Address: 1520 K Avenue, Plano, TX 75074
• Contact: (972) 208-8150
• Website: Plano Homebuyer Assistance

3. Texas State Affordable Housing Corporation (TSAHC) Homes for Texas Heroes Program
Provides down payment assistance and mortgage credit certificates to veterans, teachers, and other public servants. Veterans can receive a grant or deferred forgivable second lien loan to cover down payment and closing costs.

• Contact: (877) 508-4611
• Website: TSAHC Homes for Texas Heroes

4. Habitat for Humanity of Collin County – Veteran Homeownership Program
This program helps veterans achieve affordable homeownership through zero-interest mortgage loans and volunteer labor. It focuses on providing stable housing solutions for veterans in the Plano area.

• Address: 2060 Couch Dr, McKinney, TX 75069
• Contact: (972) 542-5300
• Website: Habitat for Humanity of Collin County

5. Veterans Affairs Supportive Housing (VASH) Program
The VASH program is a collaboration between the Department of Veterans Affairs and local housing authorities to help homeless veterans and their families secure stable housing. The program provides rental assistance vouchers and supportive services to help veterans find and maintain housing.

• Contact: (214) 857-1965
• Website: VA VASH Program

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Employment and Career Resources

These resources provide job search support, employment opportunities, and career development for veterans.

1. Collin County Veterans Employment Program
The Veterans Employment Program assists veterans in finding employment through job placement, career counseling, and resume building services. They also connect veterans with local employers looking to hire veterans.

• Address: 900 Parker Rd, Plano, TX 75074
• Contact: (469) 229-0099
• Website: Collin County Workforce Solutions

2. Texas Veterans Commission (TVC) Employment Services
The TVC provides job search assistance, resume workshops, and training opportunities for veterans and their families. They work with local businesses to promote veteran employment and host veteran job fairs.

• Address: 2520 W. Irving Blvd, Irving, TX 75061
• Contact: (512) 463-6564
• Website: Texas Veterans Commission Employment Services

3. Operation Welcome Home at Workforce Solutions for North Central Texas
Operation Welcome Home is a veteran initiative program that offers personalized employment assistance, including job matching, resume writing, and interview coaching for veterans.

• Address: 1717 W Eldorado Pkwy #250, McKinney, TX 75069
• Contact: (469) 906-2644
• Website: Workforce Solutions North Central Texas

4. Hiring Our Heroes Dallas-Fort Worth (DFW)
Hiring Our Heroes is a nationwide program that connects veterans, transitioning service members, and military spouses with meaningful employment opportunities. They host regular job fairs and networking events in the DFW area.

• Website: Hiring Our Heroes

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Healthcare and Mental Health Support

These resources provide veterans with access to medical care, counseling, and mental health services.

1. North Texas Veterans Health Care System – Plano CBOC
The Plano Community Based Outpatient Clinic (CBOC) offers a variety of healthcare services, including primary care, mental health support, and specialty services for veterans in the Plano area.

• Address: 3804 W. 15th St, Plano, TX 75075
• Contact: (972) 801-4200
• Website: North Texas Veterans Health Care System

2. Plano Vet Center
The Plano Vet Center provides counseling services, including readjustment counseling, family therapy, and employment counseling for veterans and their families. It is a valuable resource for veterans transitioning to civilian life or seeking additional support.

• Address: 3010 W. Park Blvd, Plano, TX 75075
• Contact: (972) 745-5900
• Website: Plano Vet Center

3. VA North Texas Health Care System
This health care system provides comprehensive medical services, including inpatient and outpatient care, mental health services, and rehabilitation for veterans in the Plano and North Texas area.

• Address: 4500 S Lancaster Rd, Dallas, TX 75216
• Contact: (214) 742-8387
• Website: VA North Texas Health Care

4. Metrocare Veterans Services Program
Metrocare offers mental health services for veterans, including counseling, peer support, and substance abuse treatment. The program is tailored to meet the unique mental health needs of veterans.

• Address: 1345 River Bend Dr, Dallas, TX 75247
• Contact: (214) 743-1200
• Website: Metrocare Services

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Education and Training

Educational programs and resources that assist veterans in pursuing higher education and skill development.

1. Texas Veterans Commission – Education Services
The Texas Veterans Commission assists veterans in using their GI Bill benefits, accessing tuition assistance, and navigating education benefits. They provide support for veterans pursuing higher education or vocational training.

• Contact: (512) 463-3168
• Website: TVC Education Services

2. Collin College Veterans Resource Center
Collin College offers a Veterans Resource Center to help veterans navigate educational opportunities, including applying for VA benefits, selecting courses, and accessing on-campus support services.

• Address: 2800 E Spring Creek Pkwy, Plano, TX 75074
• Contact: (972) 881-5760
• Website: Collin College Veterans Resource Center

3. University of Texas at Dallas (UTD) Veterans Services Center
UTD’s Veterans Services Center provides academic advising, peer mentoring, and career counseling for student veterans. It’s designed to support veterans in their transition to academic life and beyond.

• Address: 800 W Campbell Rd, Richardson, TX 75080
• Contact: (972) 883-4915
• Website: UTD Veterans Services

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Community Support and Advocacy

Organizations and resources focused on supporting veterans’ integration into the community and advocating for veteran rights.

1. Collin County Veterans Coalition
The Collin County Veterans Coalition is a collaboration of local organizations working to provide resources and advocacy for veterans in the community. They offer events, support groups, and informational resources.

• Website: Collin County Veterans Coalition

2. American Legion Post 321
The American Legion in Plano provides a support network for veterans, offering assistance with VA benefits, community service opportunities, and social events.

• Address: 1236 K Ave, Plano, TX 75074
• Contact: (972) 423-0700
• Website: American Legion Post 321

3. Veterans of Foreign Wars (VFW) Post 4380
VFW Post 4380 supports veterans through advocacy, community service, and social events. They offer a space for veterans to connect and access resources.

• Address: 4692 W Plano Pkwy, Plano, TX 75093
• Contact: (972) 596-1558
• Website: VFW Post 4380

FAQ About VA Loans in Plano

What are the current VA loan limits in Plano?

The VA loan limit for Plano (Collin County) is $766,550 for 2024. Veterans can borrow up to this amount without a down payment.

Are there any local homebuyer programs for veterans in Plano?

Yes, Plano offers several programs, including the City of Plano Homebuyer Assistance Program and the Texas Veterans Land Board Housing Assistance Program, providing down payment assistance and affordable mortgage options for veterans.

How do VA loans differ from other loan types in Plano?

VA loans offer unique benefits such as no down payment, no PMI, lower interest rates, and more lenient credit requirements, making them an excellent option for veterans.

Can I use a VA loan to buy a condo in Plano?

Yes, you can use a VA loan to buy a condo in Plano, but the condo must be VA-approved. It’s essential to work with a lender familiar with the VA approval process for condos.

What are the property requirements for a VA loan in Plano?

The property must meet the VA’s Minimum Property Requirements (MPRs), which include safety, sanitation, and structural integrity standards.

Can I refinance my VA loan in Plano?

Yes, veterans in Plano can refinance their VA loans through the VA Interest Rate Reduction Refinance Loan (IRRRL) or the VA Cash-Out Refinance Loan.

How do I find a VA-savvy lender in Plano?

Look for lenders who specialize in VA loans and have experience working with veterans in the Plano area. You can start by checking the VA’s list of approved lenders or asking for recommendations from local veteran organizations.

What local resources are available for veteran homebuyers in Plano?

In addition to federal VA loan benefits, veterans can access local programs such as the Collin County Veterans Services Office and the Texas Veterans Land Board Housing Assistance Program.

Conclusion

Plano’s growing economy, veteran-friendly neighborhoods, and variety of local support programs make it a great city for veterans looking to buy a home using their VA loan benefits. With access to nearby veteran-friendly cities and a robust network of resources, Plano provides veterans with the support they need to achieve homeownership and thrive in the community.

Whether you’re a first-time homebuyer or a veteran looking to refinance, leveraging your VA loan benefits and taking advantage of local programs can make all the difference. Explore the different neighborhoods, connect with local veteran support organizations, and find the right home that suits your needs in Plano, Texas.