A Home for the Brave

Rebecca McMahon wants her veteran clients to have a better homebuying experience than she did.

In 2005, McMahon and her husband had just finished serving in the Marine Corps and were excited to buy a home in Texas. “We were completely unfamiliar with our veterans benefits,” she says. “We just called the number on the for sale sign.”

The transaction was chaotic and stressful, she recalls. Only later did they learn about the state and federal programs that would have made the process much easier and more affordable.

“At the time, I was trying to find a new path after the Marine Corps,” she says. “I thought that if I got into real estate, I could help other veterans. I wasn’t educated on homestead exemptions or disabled veteran benefits or any of those things. I didn’t learn about them until I took real estate courses.” For example, McMahon didn’t know she would have qualified for a VA funding fee exemption. She had already paid the fees but later secured a refund.

After almost 20 years in real estate, serving veterans has become a specialty for the sales agent with North Pointe Group-Real in Flower Mound. Colleagues and contacts will refer to her veteran clients who believe they can’t use their benefits or could never buy a house. “It often turns out that the information they were given was wrong, and we can absolutely get them into the home they want. It’s just about knowing the processes and benefits. This is why we specialize in veteran benefits and military relocations.”

Regardless of how often you work with veterans, McMahon recommends learning more about the benefits and resources available to these clients. Your help could save them thousands of dollars and a lot of stress.

Start Your Basic Training with Federal Veterans Benefits

If you want to better serve veterans, you’re going to need to become familiar with their benefits. The Department of Veterans Affairs publication Federal Benefits for Veterans, Dependents, Survivors, and Caregivers is a good place to start.

Benefits.va.gov is another essential resource, McMahon says. While you will not be helping your veteran clients secure VA loans, it is important to be knowledgeable to explain the basics to them. However, you should be aware that TREC Rule 537.11(b) prohibits you from practicing law or giving opinions on the legal effect of contract forms or instruments that may affect title to real estate. Therefore, if the client has more detailed questions of this nature, it is best to refer them to an attorney who can provide the legal advice they need.

The Center for REALTOR® Development offers the Military Relocation Professional certification to REALTORS® who complete a one-day course online or in-person. Coursework includes learning about the VA loan process as well as information to serve active-duty clients and their families.

Train on These State Programs

The Texas Veterans Land Board offers home loan and land loan programs for qualifying veterans, explains Jimmy Smaragdis, Director of Marketing and Outreach.

VLB partners with lenders around the state to offer veterans a market-competitive interest rate on their VA, FHA, or conventional home loan, Smaragdis says. VLB offers an even lower rate to veterans with a qualifying service-connected disability.

Veterans can receive up to $806,500 on a fixed-rate loan for up to 30 years, plus little to no down payment. Loan officers with VLB’s lending partners can help veterans confirm their eligibility and apply for the loans. Veterans can use the loans for existing homes or new construction, Smaragdis explains. As of February, VLB has worked on 104,523 loans for Texas veterans, totaling over $13.8 billion.

The Texas Veterans Land Board also offers land loans to help veterans buy raw land. A veteran can receive up to $150,000; if two qualifying veterans are married, they can receive up to $225,000 toward their purchase. The loans require a minimum down payment of 5%. If the veteran has past credit issues, a higher down payment may be required. “We don’t want to tell a veteran no unless we have to,” Smaragdis says. VLB has worked on 136,733 land loans for Texas veterans, totaling over $2.9 billion.

VLB offers a TREC-approved continuing education course so agents and brokers can become more familiar with these programs. The hour-long class is held in-person and online. VLB has outreach representatives who schedule courses.

“Agents may not be familiar with our different programs and how they work. This really helps them have a better understanding. They can not only better serve their clients, but they also can promote themselves with it, saying “I have gone through the VLB course,” Smaragdis says.

Recruit Knowledgeable Partners

McMahon says it’s valuable to make connections with professionals who have experience working with VA loans and benefits. “It’s really important to have those partners in place,” she says. “You want somebody who knows about the VA funding fee exemptions, for example. That fee is almost always going to be waived.”

Meeting with potential lenders can also help you assist veterans. When McMahon is considering working with a new lender, she vets them by asking about the last circular they read. “If they cannot tell me what a circular is, I know they don’t do enough VA work,” she explains. “Circulars are very important documents that notify everyone of changes to VA loans and processes. A lot of people don’t keep up to date on those. That’s a red flag for me.”

You can find VLB’s lending partners at glo.texas.gov/veterans/home-loans/find-lender.

You can also help your existing professional contacts, such as fellow agents or lenders, become more veteran-friendly by inviting them to learn more. Continuing education classes, seminars, and webinars can offer an overview to real estate professionals.

Educate Your Clients—They Could Use It

McMahon remembers being briefed on her veterans benefits before the end of her service, but she had forgotten the details when it came time to purchase a home. She says it’s safe to assume your veteran clients are not fully aware of everything that’s available to them.

“I remember hearing the phrase zero down and thinking, ‘Oh, good: I don’t have to come to the closing table with money,’” she says. “It wasn’t explained to us about earnest money, the option fee, inspections, and everything else.”

It’s important to ask every client if they served—spouses may be able to use their benefits in the transaction. Clients who are surviving spouses of deceased veterans or soldiers missing in action or prisoners of war may also be eligible.

Does your veteran client have a disability? Approximately 29% of Texas veterans do, according to a 2024 Texas Workforce Investment Council publication. They may be entitled to additional benefits.

Today McMahon offers her buyers the walkthrough she wishes she had. “We do a thorough consultation and explain their benefits,” she says. “We go through all these different questions. I share with them our buyer’s guide and the VA manual. We talk about everything related to VA loans and the process, earnest money, and the closing so they’re informed before starting the process.”