VA Home Loans
Honoring Service, Unlocking Homeownership with VA Mortgages
Qualified Veterans and Military Personnel
As a thank‑you for your service, eligible veterans, active‑duty service members, and qualified military personnel may be able to purchase a home with no down payment and limited out‑of‑pocket closing costs, making homeownership simpler, more affordable, and faster—whether you’re buying your first home or your next one.
Red River Employees Federal Credit Union (RRCU) has been a member of the Defense Credit Union Council since 2026.
DCUC is the trusted resource for credit unions on all military and veteran matters.
THE MANY BENEFITS OF A VA LOAN:
 No Down Payment | Competitive APR |
A Range of Terms | Limited Costs |
VA Loans: What you need to know
Backed by the U.S. Department of Veterans Affairs, a VA home loan is designed to make homeownership easier for qualified veterans, active-duty service members, reservists, National Guard members, and eligible surviving spouses.
- Terms from 15 to 30 years so you can get the right payment for you
- No down payment needed
- No private mortgage insurance (PMI)
- No upfront mortgage insurance (UFMI)
- A low, one-time funding fee is usually required, with some exemptions.
- Closing costs are limited by the VA and can often be rolled into your loan.
- An ARM is a great choice if you plan to refinance or sell your home in the short term.
Our VA Loan Application Process is Simple and Secure
1. | Apply OnlineJust gather your documents and enter your personal and financial details into our convenient online portal. | 2. | Get Pre-QualifiedWe'll review and verify your documents. If approved, we can agree on an ideal loan amount, term, and rate. | 3. | Look for a Home!Once your offer is accepted, we'll guide you through the closing process including a home appraisal. |
“Outstanding service. My loan officer Mrs. Kayla White really cares for you and your financial growth. I have learned a lot over the three plus years I have been with her at RRFCU. Thank U so much.” -- Jeanette B.
“The best financial institution I have ever been a customer of I can actually say I love my credit union. When finance companies & banks told me no, Red River told me yes!” -- Tammy D.
“Hailey and Delia are the best. They both exhibit extraordinary customer service and made my loan process a breeze. I have been a Red River Federal Credit Union member since It was State First National and the exemplary service provided means a lot. This branch is family oriented and filled with honesty and integrity and I thank you both for the experience!” -- Tomeiko S.
VA Home Loan FAQs
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Who is eligible for a VA loan?
To qualify for a VA loan, you'll need to request a Certificate of Eligibility (COE).
You may be eligible if you belong to one of the following groups:
- U.S. Veterans
- Active-duty service members
- Reservists
- National Guard members
- Eligible surviving spouses
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What's the difference between a VA loan and conventional home loan?
Veterans Affairs (VA) loans are partly insured by the federal government to make homeownership more accessible for eligible groups.
VA loans don't need a down payment or private mortgage insurance (PMI, but these loans usually require a one-time funding fee. The appraisal guidelines are more strict than for conventional loans.
A conventional home loan is the standard kind of mortgage you get from a private lender, like your local credit union. You'll likely need to pay private mortgage insurance (PMI) if your down payment is under 20%.
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Will I need to pay a funding fee on my VA loan?
VA loans generally require a funding fee to help offset the cost of the loan for the U.S. taxpayer. You may be exempt from the fee if you are:
- Receiving VA compensation for a service-connected disability
- Eligible for compensation but receiving retirement or active-duty pay instead
- The surviving spouse of a Veteran who died in service or from a service-connected disability, or if you're receiving Dependency and Indemnity Compensation (DIC)
- A service member eligible to get compensation because of a pre-discharge claim
- A service member on active duty who received the Purple Heart
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Can I roll closing costs into my VA loan?
You may be able to roll some of your closing costs into your loan and your lender can offer guidance about what needs to be paid upfront and what can be included in your principal.
Closing costs may include:
- VA funding fee
- VA appraisal fee
- Loan origination fee
- Loan discount points or funds for temporary “buydowns”
- Hazard insurance and real estate taxes
- State and local taxes
- Title insurance and recording fee
Note that you and your lender can get a free credit report, but you may need to pay to settle any credit balances or judgments.
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What interest rate will I get for my VA loan?
The annual percentage rate (APR) you get will depend on your credit score, the term you choose, and whether you choose a fixed-rate or adjustable-rate (ARM) mortgage.
- Higher credit scores get lower interest rates
- Shorter loan terms get lower interest rates
- An adjustable-rate mortgage (ARM) usually has a lower initial fixed rate than a fixed-rate mortgage
- ARMs later adjust with the market, while fixed-rate mortgages stay the same for the life of the loan
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What kind of property can I buy with a VA home loan?
You can use a Red River VA loan to finance a range of property types, including:
- 1-4 Family Residence
- Land Only
- Investment Property
- Second Homes
- Double Wide Mobile Homes (Permanently attached to the property)
- Non-Conforming Property
- New Construction Property
- Home Equity Loans
- Home Improvement Loans
More Great Loans and Helpful Resources
Home Equity Loans
Home equity loans let you borrow against the value of your home to fund major expenses or consolidate debt. They offer flexible terms, competitive rates, and no maximum limit—only Texas properties require a $50,000 minimum.
Conventional Loans
Get a home loan that's just between you and us. Choose a term to suit your budget and opt for fixed or adjustable-rate interest to fit your income and goals.
Mortgage Calculators
Use our handy calculators to see what purchase price and mortgage payment works best for you and your family, no matter what home loan you get.