Home Loan for Regular Purchase

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.

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.

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

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.