VA Vs. Conventional In Haughton: Which Loan Fits?

Moving to Haughton or settling near Barksdale AFB and trying to pick between a VA and a conventional loan? You are not alone. The right choice can lower your upfront costs, smooth your timeline, and help you win the home you want. In this guide, you will learn how each loan type works, what it costs, how appraisals differ, and what to expect in the Haughton market so you can move forward with confidence. Let’s dive in.

VA vs. conventional at a glance

If you are eligible for a VA loan, it can offer powerful benefits, including no down payment and no monthly mortgage insurance. Conventional loans give you more property flexibility and can be a strong fit if you have a larger down payment. In Haughton, both paths are common for buyers relocating for Barksdale AFB or commuting to Bossier City and Shreveport.

Eligibility and underwriting

Who qualifies for a VA loan

VA loans are a federal benefit for eligible veterans, active duty service members, certain National Guard or Reserve members, and some surviving spouses. You will need a Certificate of Eligibility, often called a COE, to confirm your benefit. Lenders apply their own credit and debt-to-income standards, and many look for mid-600 credit scores, though some accept lower with strong compensating factors. You must plan to occupy the home as your primary residence.

Conventional loan basics

Conventional loans are offered by lenders and often sold to Fannie Mae or Freddie Mac. They have defined credit and debt-to-income guidelines, and many programs start with as little as 3 percent down for eligible borrowers. You can use a conventional loan for a primary home, a second home, or an investment property, with different pricing rules.

What lenders review

For both loan types, lenders review your credit history and score, debt-to-income ratio, income and employment, assets and reserves, and the property type and condition. Local lenders in Bossier Parish may set their own overlays, so it pays to compare.

Upfront and ongoing costs in Haughton

Down payment differences

A major VA advantage is the ability to put 0 percent down on many purchases. That can help you keep more cash for closing and moving. Conventional loans can go as low as 3 percent down for certain programs, but many buyers choose 5 to 20 percent. If you put 20 percent down on a conventional loan, you avoid private mortgage insurance.

Funding fee vs. PMI

VA loans usually include a one-time funding fee, which you can pay at closing or roll into the loan. Some borrowers are exempt based on VA disability status. VA loans do not have monthly mortgage insurance, which helps lower your payment. Conventional loans require private mortgage insurance if your down payment is under 20 percent. PMI can often be canceled when your loan-to-value reaches 80 percent, with automatic cancellation at 78 percent if you are current and terms are met.

Other costs to plan for

• Interest rate: VA rates are often competitive, but you should compare both options since rates vary by credit, down payment, and market conditions.
• Closing costs: Both loan types include lender, title, and recording fees. The VA limits some fees charged to veterans, and sellers can contribute within VA rules. Seller-paid costs are negotiable in either case.
• Property taxes and insurance: These are set locally and apply to any loan type. Check the Bossier Parish Assessor for current tax information and plan for homeowner’s insurance based on the home’s characteristics.
• Flood insurance: Parts of Haughton fall within FEMA flood zones. If your property is in a high-risk zone and financed, your lender will require flood insurance, which affects your monthly payment.

Appraisals and property condition

VA appraisal and MPRs

A VA appraisal determines market value and checks the home against VA Minimum Property Requirements, which focus on safety, soundness, and sanitary conditions. If the appraiser finds issues, repairs may be required before closing. This process can add time, especially if contractors or re-inspections are needed. In Haughton’s move-in-ready neighborhoods, many homes pass smoothly, but older properties can trigger repair requests.

Conventional appraisal flexibility

Conventional appraisals focus on market value. Lenders still care about condition, but they do not use the same MPR checklist. Some transactions may qualify for automated valuation or an appraisal waiver, which can speed things up. If a home needs work, conventional lenders may allow certain repairs after closing with the right program, or they may require an escrow holdback.

Property types and condos in Haughton

Haughton is primarily single-family, with a mix of newer subdivisions and established neighborhoods. Condo and townhouse options are more limited. VA loans require that the condo project be VA approved. Conventional loans follow Fannie Mae or Freddie Mac project standards. If you are pursuing a condo, check project approval early to avoid surprises.

Timeline and local process tips

Typical closing times

Many conventional purchases in our area close in about 30 days when everything is straightforward. VA purchases commonly run 30 to 45 days. VA timing can stretch if COE retrieval, the VA appraisal, or required repairs take longer. Starting the COE early helps keep things on track.

PCS planning for Barksdale AFB

If you are on a tight PCS timeline, be open with your lender about dates from day one. Ask about VA appraisal turnaround times and whether conventional appraisal waivers might be possible based on your profile and the property. A lender who regularly works with VA and PCS schedules can help you close as fast as the market allows.

Local checks to do early

• Verify your school attendance zone with the Bossier Parish School District.
• Confirm the current property tax bill with the Bossier Parish Assessor.
• Pull the FEMA flood map for the exact parcel so you understand your insurance needs and costs.
• Request seller disclosures early to gauge potential repair issues that could affect a VA appraisal.

Simple decision guide

1. Are you VA eligible? If yes, request your COE now. If no, focus on conventional.
2. How much cash do you want to put down?
   • Little or no cash saved: Compare VA at 0 percent down with conventional low-down programs.
   • Twenty percent or more: Conventional may avoid PMI and offer a simple path.
3. Do you want to avoid monthly mortgage insurance? VA has no monthly PMI, while conventional has PMI if under 20 percent down.
4. What is the property’s condition and type?
   • Move-in ready single-family homes often fit either loan.
   • If significant repairs are likely, conventional or a renovation program may be easier.
   • For condos, confirm project approvals early.
5. What is your timeline?
   • Tight PCS window: Ask lenders about VA appraisal capacity and conventional appraisal waiver options.
6. Compare total cost over your time horizon.
   • Short-term hold: Upfront fees and closing costs matter more.
   • Long-term hold: Interest rate and monthly costs matter more.

Two common buyer scenarios

Active-duty buyer with limited cash

You want to live near base and keep cash for moving and furnishing. A VA loan can reduce upfront cash needs and remove monthly PMI. Be ready for a VA appraisal with MPRs, and target homes in move-in condition to avoid repair delays.

Civilian buyer with a larger down payment

You have steady income and plan to put a significant amount down. A conventional loan can let you avoid PMI and simplify the appraisal process. If you are considering an older home that needs work, conventional flexibility and possible repair escrow could help the deal stay on schedule.

How Cassie helps you compare

Choosing the right loan affects your search, your offer strategy, and your closing timeline. Cassie brings deep local knowledge across Haughton, Bossier City, and Shreveport, plus responsive communication that keeps your lender, title company, and you aligned. If you are relocating, she offers FaceTime walkthroughs and clear, step-by-step guidance so you can shop confidently from out of state. She will help you focus on homes that match your financing path, anticipate appraisal needs, and negotiate repairs that keep your move on track.

Ready to run the numbers and map your plan in Haughton? Connect with Cassie Walton for a friendly, local strategy session.

FAQs

What is the main difference between VA and conventional loans?

• VA loans are a benefit for eligible service members and certain others, often allowing 0 percent down and no monthly PMI, while conventional loans are widely available, can be used for multiple property types, and may avoid PMI with 20 percent down.

How do VA funding fees compare to conventional PMI?

• VA loans usually include a one-time funding fee that can be financed, while conventional loans often require monthly PMI if you put less than 20 percent down; PMI can usually be canceled as equity grows.

Are VA appraisals harder to pass in Haughton?

• VA appraisals include Minimum Property Requirements focused on safety and soundness, which can lead to repair requests on homes with deferred maintenance; well-maintained, move-in ready homes near Barksdale often pass without major issues.

How long does a VA loan take to close compared to conventional?

• Conventional purchases commonly close around 30 days, while VA purchases often take 30 to 45 days due to COE, appraisal scheduling, and potential repairs; starting COE early helps.

Can sellers pay my closing costs with a VA loan?

• Yes, VA allows seller concessions within its rules, and it is common to negotiate seller-paid closing costs based on market conditions and the contract.

Do VA loans have a minimum credit score?

• The VA does not set a national minimum score, but lenders do; many look for mid-600s, while some consider lower scores with compensating factors.

How should Barksdale PCS timing affect my loan choice?

• If your timeline is tight, ask lenders about VA appraisal capacity and whether a conventional appraisal waiver is possible; choose the path that best matches your schedule and total cost.