Home Loan for Regular Purchase

Veterans Benefits Administration (VBA) in Housing
December 19, 2018

Overview

The Department of Veterans Affairs (VA) Home Loan program guarantees loans made to eligible Veterans, Servicemembers, Reservists, National Guard members and certain surviving spouses.

VA guarantees a percentage of the loan. This helps the Veteran obtain a no-down payment mortgage at a competitive interest rate that does not require private mortgage insurance.

VA-guaranteed loans may also be refinanced. Go to Home Loan Interest Rate Reduction Refinancing to see the program requirements.

Administration

Home Loan for Regular Purchase is administered by Veterans Benefits Administration (VBA).

Program Requirements:

Persons who may qualify for VA-guaranteed loans include:

  • Veterans 
  • Reserve and National Guard members (called to active duty)
  • Active duty Servicemembers
  • Current Reserve and Guard members (after six years of creditable service)
  • Certain surviving spouses

To be eligible, the Veteran/Servicemember must have been discharged under conditions other than dishonorable and meet the length of service requirements.

As a requirement for a VA home loan, the Veteran, the Veterans' spouse, or dependent child must certify occupancy for the property.

Application Details

To apply, you will need a valid Certificate of Eligibility (COE). There are several ways to obtain your COE:

  • You may be able to obtain a COE online through eBenefits.
  • If you are unable to obtain your COE through eBenefits, check with your lender. In most cases, your lender will be able to obtain a COE for you using the Automated Certificate of Eligibility (ACE) program.

For more information on this program, please visit the Home Loans website.

Contact:

1-877-827-3702

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