VA Loan in First Horizon National Corporation
VA Loan from First Horizon National Corporation
First Horizon National Corporation proudly offers VA loan solutions designed to honor the service of our active duty military personnel, veterans, members of the National Guard and Reserve, and eligible surviving spouses. Our VA loan program combines the benefits of the U.S. Department of Veterans Affairs guarantee with the local expertise, responsive service, and competitive pricing you expect from a trusted national lender. Whether you are buying your first home, relocating, refinancing to reduce monthly payments, or taking advantage of streamlined options, our dedicated VA lending team is here to help you navigate each step with clarity and confidence.
Why choose a VA loan?
VA loans are purpose-built to support military families and offer a combination of features that can make homeownership more affordable and accessible:
- Low or no down payment: Many VA loans allow qualified borrowers to purchase a home with little to no down payment, increasing affordability and preserving savings.
- No private mortgage insurance (PMI): Unlike conventional loans, VA financing typically does not require PMI, potentially lowering your monthly payment.
- Competitive interest rates: VA loans often come with interest rates that are competitive with — and sometimes lower than — other mortgage options.
- Flexible credit considerations: We evaluate credit in a way that recognizes the realities of military life, helping more eligible borrowers qualify.
- Assumable loans: In some cases, VA loans can be assumed by a qualified buyer, which can be an attractive selling point when you decide to move.
- Refinance options: Including the Interest Rate Reduction Refinance Loan (IRRRL) and cash-out refinance options, to help reduce payments or access home equity.
Features of First Horizon VA Loans
Our VA loan products are designed to be straightforward and supportive of borrowers’ unique needs. Key features include:
- Dedicated VA specialists: Loan officers with experience in VA guidelines who can guide you through eligibility, entitlement, and the application process.
- Personalized rate quotes: Competitive rate options tailored to your financial profile and loan goals.
- Streamlined processing: Efficient underwriting and clear communication to minimize delays and uncertainty.
- Support for purchase and refinance: Purchase loans, IRRRLs for rate-and-term refinancing, and cash-out refinances where eligible.
- Transparent fee structure: Clear explanation of allowable closing costs, VA funding fee considerations, and seller-paid closing cost options.
- Local service with national strength: Access to local loan officers and decision-makers backed by the resources and stability of a national banking organization.
Eligibility and entitlement
VA loans are available to eligible veterans, active duty service members, certain members of the National Guard and Reserve, and some surviving spouses. Eligibility is confirmed through a Certificate of Eligibility (COE), which demonstrates entitlement to VA home loan benefits. Our team can assist you in obtaining your COE and understanding how your entitlement impacts loan amounts and options.
Entitlement can affect how much of the loan the VA will guarantee and whether a down payment may be required. First Horizon’s loan officers will work with you to explain entitlement details, including how previous VA loans or remaining entitlement may influence your financing strategy.
How the application process works
We strive to make the VA loan application process as smooth as possible. Typical steps include:
- Prequalification: Discuss your goals with a VA specialist and receive a preliminary assessment of what you may be able to borrow.
- Obtain your COE: We help you confirm VA eligibility and secure your Certificate of Eligibility if you don’t already have it.
- Choose a property: Work with your real estate agent to select a home that meets VA Minimum Property Requirements.
- Submit your loan application: Provide documentation such as income, employment, and asset verification for underwriting review.
- Underwriting and appraisal: The loan undergoes underwriting and a VA appraisal to ensure the property meets standards and supports the requested loan amount.
- Closing: Once approved, we coordinate closing details so you can finalize your home purchase or refinance.
What to prepare
To help expedite your application, gather common documents ahead of time:
- DD-214 or active duty documentation when applicable
- Certificate of Eligibility (COE) or authorization to request one
- Recent pay stubs, W-2s, and tax returns as applicable
- Bank statements and documentation of assets
- Information about current debts and housing payments
Benefits of working with First Horizon
Choosing First Horizon National Corporation for your VA financing brings the advantages of experienced VA lending professionals, a commitment to service, and a full suite of mortgage products to suit your evolving needs. Our focus is on helping borrowers understand their options, reduce surprises, and close on time with clear expectations. We combine veteran-friendly mortgage practices with modern tools to keep you informed at every stage.
Common questions
Q: Will I always need a down payment?
A: Many eligible borrowers can obtain VA financing with little or no down payment, depending on entitlement and loan amount. Your loan officer will explain how entitlement and property value affect down payment needs.
Q: Are there fees specific to VA loans?
A: VA loans may include a VA funding fee unless exempt; allowable closing costs and who may pay them are governed by VA rules. We provide a clear breakdown of estimated costs early in the process.
Q: Can I refinance an existing VA loan?
A: Yes. The VA offers options such as the IRRRL for streamlined refinancing and other refinance programs to access equity or change loan terms. Eligibility requirements differ by program.
Start your VA loan journey
If you are eligible for VA benefits and considering a home purchase or refinance, First Horizon National Corporation is ready to provide knowledgeable guidance and tailored loan solutions. Our VA lending team understands the unique needs of military borrowers and is committed to delivering efficient, transparent service from prequalification through closing.
Explore VA financing with a lender that respects your service and works to simplify homeownership. Contact our VA loan specialists to discuss your situation and find the right VA loan product for your goals.
Address Bank: Memphis, Tennessee, U.S.
Bank: First Horizon National Corporation
Headquarters: Memphis
Products: Mortgages
Type: Va Loan
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