VA Home Loan Program

If you’re an eligible member or veteran of the armed forces, you can apply for the VA Home Loan Program. Surviving spouses of veterans may also apply for a VA mortgage as well as others who may also be qualified under the VA loans program.

The term servicemember, according to the VA official site, consists of members of the Army, Navy, Air Force, Marine Corps, Coast Guard, the Commissioned Corps of the National Oceanic and Atmospheric Administration (NOAA) and the Commissioned Corps of the Public Health Services. Though the Coast Guard, NOAA, and members of the Public Health Services are not normally grouped together with the four branches of the military, they may also apply for a VA home loan.

VA will help you buy, build, repair, retain, or adapt a home. According to the VA website, “VA Home Loans are provided by private lenders, such as banks and mortgage companies. VA guarantees a portion of the loan, enabling the lender to provide you with more favorable terms.”

A variety of loans are offered, including Purchase Loans, Interest Rate Reduction Refinance Loan (IRRRL), Native American Direct Loan (NADL) Program, and Adapted Housing Grants. These programs will help you with everything, from purchasing a home without requiring a down payment or private mortgage insurance to helping veterans with permanent disabilities to build or adapt a home.

Contact the VA at 1-800-827-1000 or visit their website to learn more about the advantages of benefits under the VA loans program.

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