VA Loans in Murfreesboro, Tennessee

VA lending in Murfreesboro

Murfreesboro and Rutherford County have a substantial veteran population. The area's proximity to Nashville, its strong job market, and its more affordable prices relative to Davidson County have attracted veterans and military families who want to be within commuting distance of Nashville without paying Nashville prices.

Murfreesboro's price range is well-suited to VA financing. Since 2020, eligible borrowers with full entitlement have no VA loan limit, meaning VA-eligible buyers can purchase at any price point the lender will approve with no down payment. In Murfreesboro's market, this covers the vast majority of available homes.

VA and new construction in Murfreesboro

Murfreesboro has significant new construction activity. VA financing is available for new construction, but the process has specific requirements — the builder must be VA-registered, and the property must meet VA Minimum Property Requirements at the time of the appraisal. VA appraisals for new construction typically occur at different stages than existing home appraisals.

Some Murfreesboro builders are experienced with VA financing and have streamlined processes for VA buyers. Others may be less familiar. Morgan Hardy can help you navigate the VA new construction process and identify builders who work well with VA financing.

VA vs. conventional in Murfreesboro

For VA-eligible buyers in Murfreesboro, VA is almost always the better choice over conventional with less than 20% down. VA requires no down payment and no PMI, while conventional with less than 20% down requires PMI that adds to the monthly cost. The VA funding fee is the primary cost, but it can be rolled into the loan and is waived for veterans with a service-connected disability rating.