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Home Loans

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Since 1944, VA has backed more than 22 million home loans for veterans and their families, allowing them to become homeowners. VA provides a home loan guaranty benefit and other housing-related programs to help buy, build, repair, retain or adapt homes. VA Home Loans are provided by private lenders, such as banks and mortgage companies, and VA guarantees a portion of the loan, enabling the lender to provide more favorable terms.

You can use a VA-guaranteed loan to buy your next home, either existing or pre-construction, or refinance an existing loan. Generally, you are eligible if you are a:

  • Veteran who meets length of service requirements

  • Service member on active duty who have served a minimum period

  • Reservists and National Guard member (in certain cases)

  • Surviving spouse of a deceased veteran (in certain cases)

Advantages of a VA Home Loan
A VA-guaranteed home loan offers many advantages, including:

  • Equal opportunity for all qualified veterans to obtain a VA loan

  • Reusable

  • No downpayment (unless required by the lender or the purchase price is more than the reasonable value of the property)

  • No mortgage insurance

  • One-time VA funding fee that can be included in the loan

  • Veterans receiving VA disability compensation are exempt from the VA funding fee

  • VA limits certain closing costs a veteran can pay

  • Can be assumed by qualified persons

  • Minimum property requirements to ensure the property is safe, sanitary and sound

  • VA staff dedicated to assisting veterans who become delinquent on their loan

For more information, visit the VA website.