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VA loans in Lakeland, TN

Quick answer

Eligible veterans and service members in Lakeland, TN can buy with 0% down and no monthly mortgage insurance; with full entitlement there's no VA loan limit, and Shelby County's $832,750 limit applies only to partial entitlement. On the $373,800 median home, the estimated payment is $2,894/month at 7.18% including the 2.15% first-use funding fee.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsData last updated

Median household income: $113,843; value-to-income ratio 3.28. Lakeland ranks 11 by home value and 44 by population among 65 places in our TN dataset.

What does a VA loan cost on a typical Lakeland home?

ItemLakeland
Median home value (Census ACS)$373,800
Tennessee median home value$256,800
Down payment (0%)$0
Loan incl. 2.15% funding fee$381,837
Estimated monthly payment (PITI + MI)$2,894
Income needed (28% / 36%)$125,000 / $97,000
Shelby County 2026 county limit for partial VA entitlement$832,750

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Payment includes Tennessee's 0.55% effective property tax rate (Census ACS), $1,649/yr homeowners insurance (NAIC state average); VA loans have no monthly mortgage insurance.

What is the 2026 VA loan limit in Lakeland?

VA loans have no loan limit for borrowers with full entitlement. If part of your entitlement is tied up in another VA loan, VA uses Shelby County's 2026 conforming limit of $832,750 to calculate your zero-down maximum. The county's FHA limit is $541,287 for comparison.

The Lakeland median home value of $373,800 is 46% above the Tennessee median, and within what the county limit supports.

Which down payment assistance programs can Lakeland buyers use?

VA loans in nearby cities

ArlingtonBartlettMillingtonAtokaGermantownCollierville

VA loan FAQs for Lakeland

Not for borrowers with full entitlement. If you have an active VA loan or unrestored entitlement, Shelby County's 2026 limit of $832,750 is used to calculate how much you can borrow with no down payment.

With 0% down on $373,800, a 2.15% first-use funding fee financed brings the loan to about $381,837; the estimated payment including Tennessee taxes and insurance is $2,894/month. Veterans with a service-connected disability rating are generally exempt from the fee.

At the $373,800 median value (above the Tennessee median of $256,800), the estimated payment of $2,894/month at 7.18% needs about $125,000 a year under the 28% housing guideline, or $97,000 if your total debts stay under 36%.

0 city-level, 0 county-level and 2 statewide programs are verified for this city (2 total). Check each official administrator's eligibility rules and available funds.

Sources

Data last updated October 23, 2026.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.