VA Loans in Memphis, TN
A Memphis search tied to Millington can cover enough distance that the commute and monthly payment need to be compared together. We review your orders, pull the COE, and prepare the financing before you make an offer. For each home, we put the drive beside its Shelby County taxes, insurance, association dues, and complete payment.
- Memphis and Shelby County
- Purchase and refinance options
- Licensed in all 50 states
Speak with a VA loan specialist about your loan options.
Send your name, email, and phone. A VA loan specialist will call you back and point you in the right direction. No credit pull.
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Prefer not to wait? Call 800-697-4371 or text us at (800) 697-4371.
Are Memphis Homes Selling Faster or Slower This Month?
The current market snapshot gives you a citywide starting point, while the ZIP selector shows how price, inventory, and market time can change within Memphis. More inventory and longer market times can give buyers more room to negotiate, while faster ZIP markets may require a well-prepared offer.
Once you choose a property, the actual purchase price, tax bill, insurance quote, association charges, and condition of the home matter more than the citywide average.
How Do Memphis ZIP Codes Change the Home Search?
People often search by ZIP code, including 38119, because the price range and type of home can change quite a bit across Memphis. Your choice should account for the areas below as separate markets instead of treating all of Memphis like one neighborhood.
East Memphis and Germantown
Raleigh and Bartlett
North Memphis and eastern Shelby County
Should You Keep Renting or Buy a Home in Memphis?
Rent and a mortgage should be compared over the time you expect to stay in the home. We include the full monthly cost, cash needed up front, maintenance, moving expenses, and possible selling costs.
Monthly payment
The complete housing payment belongs beside rent
A useful comparison includes principal, interest, property taxes, insurance, association charges, and a realistic maintenance budget, not just principal and interest.
Time in the home
The expected time in the home changes the math
Closing costs, moving expenses, and future selling costs matter more when you may move again in a short period.
Cash after closing
Cash reserves still matter after closing
A lower down payment can preserve cash, but you still need room for inspections, moving, repairs, and the normal expenses that come with owning a home.
How Should NSA Mid-South Households Compare Memphis With Millington?
If the daily drive to NSA Mid-South matters, compare Millington with north Memphis and Bartlett before you settle on a price range. A lower purchase price is not automatically the better choice once you add the commute, taxes, insurance, condition of the home, and how long you expect to remain in the area.
When Does a Memphis VA Refinance Make Sense?
The right refinance depends on what you are trying to improve and what you currently owe.
Existing VA loan
VA Streamline Refinance
For an existing Memphis VA mortgage, the VA Interest Rate Reduction Refinance Loan (IRRRL), often called a streamline refinance, can lower the rate or change the terms. The current mortgage must have enough satisfactory payments, be old enough, and save enough to repay the costs within the required period.
Available equity
VA cash-out refinance
The new appraisal shows how much equity is available for a cash-out refinance, while credit, income, debts, and the proposed payment determine how much can be approved.
Which Delays Can Move a Memphis VA Closing Date?
The closing schedule starts once we have a complete application and enough time for the VA appraisal, title work, insurance, and any repair or property question. We track each item against the purchase contract so a delay can be handled before it threatens the closing date.
What Do Memphis Buyers Ask About VA Loans?
How do I apply for a VA loan in Memphis?
Call 800-697-4371 or use the Get a Callback button. A VA specialist will call to discuss your eligibility, income, debts, credit, and whether you are looking in Memphis, Bartlett, or Millington.
Can I use a VA loan in Memphis if I am not stationed nearby?
You do not have to be stationed near Memphis to use your VA benefit. We pull your Certificate of Eligibility (COE), confirm the available entitlement, and review your finances and the property you want to buy.
Does Memphis ZIP Code 38119 Qualify for VA Financing?
A home in ZIP code 38119 can use VA financing, but the ZIP code does not tell us whether a particular house qualifies. We review the parcel, city and Shelby County taxes, roof age, visible condition, insurance quote, association charges, title, and inspections. We also pull your COE and review your income, monthly debts, credit, and cash needed before approving the loan.
Can a first-time buyer use a VA loan in Memphis?
A first-time buyer can use a VA loan in Memphis because prior homeownership is not required. After the application and property are approved, an eligible buyer with full entitlement can purchase a qualifying primary home with $0 down and no monthly mortgage insurance.
Does a Memphis VA IRRRL require an appraisal?
PBT’s VA IRRRL does not require an appraisal, income verification, or asset verification. The current mortgage must already be VA-backed, have enough satisfactory payments, and be old enough to refinance. The savings also need to recover the costs within the allowed period and provide the required benefit. Cash-out is different because it requires an appraisal and full underwriting.
Can I refinance a Memphis home with a VA loan?
If the current mortgage is a VA loan, an Interest Rate Reduction Refinance Loan (IRRRL) may help with the rate or payment. A Memphis primary residence with available equity may also be reviewed for a VA cash-out refinance using an appraisal and full underwriting.
Content reviewed August 8, 2026. Local market data updated May 31, 2026 from Redfin Data Center monthly city/ZIP exports (rolling 3 months). PBT Bancorp NMLS #257781.
Sources reviewed include Redfin Data Center monthly city/ZIP exports (rolling 3 months), as of May 31, 2026 | U.S. Department of Veterans Affairs, VA home loan limits and entitlement, as of July 13, 2026 | Federal Housing Finance Agency, 2026 conforming loan limit values, as of July 13, 2026 | Tennessee Department of Revenue, Income Tax Withholding, as of July 13, 2026 | U.S. Department of Veterans Affairs, home loan guaranty county statistics, as of July 19, 2026 | U.S. Department of Veterans Affairs, VA purchase loan guidance, as of July 20, 2026 | U.S. Department of Veterans Affairs, VA home-buying process, as of July 20, 2026 | U.S. Department of Veterans Affairs, Interest Rate Reduction Refinance Loan guidance, as of July 20, 2026 | PBT Bancorp public program and licensing information, as of July 20, 2026.
Hero photo of the Memphis skyline by Quintin Soloviev, CC BY 4.0, via Wikimedia Commons.