Home Loan for Regular Purchase

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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.

To obtain the most advantageous financing, VA encourages eligible Veterans, Servicemembers, Reservists, and National Guard members to meet with several lenders to determine the best mortgage terms to meet individual needs and circumstances.

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.

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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.

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Market Interest Rate, VA funding fee, and no pre-payment penalties. Maximum loan term cannot exceed 30 years. No maximum loan amount.

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If you have questions:

Visit the Inquiry Routing and Information System (IRIS) website to search Frequently Asked Questions or ask a question on-line.
Please contact a Regional Loan Center if you have detailed questions.

Additional Information

Additional Information
Max Loan Length	30 years
Interest Rate	Market
Max Loan Amount	None
Payment Frequency	Monthly
Prepayment Penalties	None
Fees	VA Funding Fee

Loan Categories

Housing Loans

Veterans Loans

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