VA Services: Home Loans
Did You Know?
VA offers guaranteed home loans, refinancing assistance and special grants for disabled Veterans to adapt and acquire housing suitable for their needs.
Some benefits of a VA Home Loan
- No down payment (unless required by the lender or the purchase price is more than the reasonable value of the property).
- Negotiable interest rate.
- No mortgage insurance premiums.
- An assumable mortgage.
- Right to prepay without penalty.
- VA assistance to veteran borrowers in default due to temporary financial difficulty.
For information on a new loan, you can call: 1-888-244-6711.
For questions on an existing loan, call: 877-827-3702 or contact your Regional Loan Center directly.
How do I obtain a VA Home Loan
- Find property you would like to buy.
- Sign a purchase contract conditioned on approval of your VA home loan.
- Apply to a mortgage lender for a loan
- Apply for a Certificate of Eligibility. The lender can also obtain a Certificate of Eligibility on your behalf.
- Obtain a VA appraisal.
- The lender will let you know the decision on the loan. You should be approved if the established value and your credit and income are acceptable.
- Attend the loan closing. The lender or closing attorney will explain the loan terms and requirements as well as where and how to make the monthly payments. Sign the note, mortgage, and other related papers.
VA Home Loans
VA Home Loan Eligibility
VA Housing Assistance