VA Loans in Memphis, TN
VA loans in Memphis can work for first-time buyers, Veterans already living in Shelby County, and military households connected to NSA Mid-South in Millington. An eligible buyer with full entitlement may be able to purchase a qualifying primary home with $0 down and no monthly mortgage insurance. The better question is which Memphis ZIP code gives you the right combination of payment, commute, property condition, and time you expect to keep the home.
- 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.
What Does the Memphis Housing Market Look Like Right Now?
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. Our goal is to help you see where buyers may have more room to negotiate and where a well-prepared offer may still need to move quickly.
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. Compare 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
Talk through the numbers
Want help before you start touring homes?
Click Get a Callback, complete the form, and one of our VA specialists will call you to go over your specific scenario.
Should You Keep Renting or Buy a Home in Memphis?
Start with the decision you are actually trying to make, then compare the complete cost of each option over the time you expect to stay.
Monthly payment
Compare the full payment with rent
Include principal, interest, property taxes, insurance, association charges, and a realistic maintenance budget instead of comparing rent with principal and interest alone.
Time in the home
Think past the first year
Closing costs, moving expenses, and future selling costs matter more when you may move again in a short period.
Cash after closing
Keep enough money in reserve
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.
Review your estimate
Want the payment checked against your actual file?
A VA specialist can review the purchase price, entitlement, taxes, insurance, and lender options with you before you make an offer.
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
A VA Interest Rate Reduction Refinance Loan (IRRRL), often called a streamline refinance, may help lower the rate or change the loan structure when the current VA loan meets the payment history, seasoning, recoupment, and net tangible benefit requirements.
Available equity
VA cash-out refinance
For a Memphis primary residence, we review the available equity, current appraisal, borrower eligibility, loan-to-value (LTV), program limits, liens, costs, and full underwriting before the new loan can receive final approval.
Thinking of refinancing?
Want to go over your VA refinance options?
Complete the form and one of our VA specialists will call you to go over your options.
How Fast Can a Memphis VA Loan Close?
Once the application has been completed and all documents submitted, a complete VA loan can often close in just 2 to 3 weeks. Of course, the actual closing date still depends on how quickly we receive the appraisal, if one is needed, title documents, insurance, and how responsive the borrower is when items are needed for underwriting.
Is $832,750 the VA Loan Limit in Shelby County?
That is a common misconception that many people have, but $832,750 is the 2026 one-unit conforming loan limit in Shelby County, not the maximum VA loan amount. The FHFA sets the conforming loan limits by county each year, and this is not something that changes depending on your lender.
Please keep in mind that the conforming loan limit isn’t the actual limit for the loan amount the VA will approve. For a borrower with full entitlement, it is only the limit for a conforming loan, and anything over this amount would be considered a high-balance loan.
If you have partial entitlement, the county conforming loan limit is also used to calculate how much guaranty you have left and whether a down payment is needed. We pull your Certificate of Eligibility (COE) and explain how it applies before you start making offers.
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.
Which Memphis ZIP codes should a VA buyer compare?
Compare the commute, home type, condition, taxes, insurance, and the number of years you expect to own the home. East Memphis, Midtown, Millington, and Bartlett can produce very different prices and monthly payments.
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 may be able to purchase a qualifying primary home with $0 down and no monthly mortgage insurance.
How long does a Memphis VA loan take to close?
Once the application has been completed and all documents submitted, a complete VA loan can often close in just 2 to 3 weeks. Of course, the actual closing date still depends on how quickly we receive the appraisal, if one is needed, title documents, insurance, and how responsive the borrower is when items are needed for 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.
Ready to start your Memphis VA loan?
Talk with a PBT Bancorp VA specialist about buying or refinancing in Memphis. We pull your Certificate of Eligibility (COE) and compare available bank and wholesale options. Once the application has been completed and all documents submitted, a complete VA loan can often close in just 2 to 3 weeks. Of course, the actual closing date still depends on how quickly we receive the appraisal, if one is needed, title documents, insurance, and how responsive the borrower is when items are needed for underwriting. Call 800-697-4371 or get pre-qualified online.
Content reviewed July 19, 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.
Hero photo of the Memphis skyline by Quintin Soloviev, CC BY 4.0, via Wikimedia Commons.