Program Description

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.

Veterans who want to take cash out of their home equity or refinance a non-VA loan into a VA-guaranteed loan, can obtain a VA-guaranteed cash-out refinance loan.

VA also offers a direct loan to Veterans who are Native American or Veterans married to Native American non-Veterans. The Native American Direct Loan (NADL) program may help Veterans obtain a loan to buy, build, or improve a home on federal trust land. Eligible Veterans may also get a loan to refinance an existing NADL and reduce their interest rate.

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.

Application Process

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.

Loan Terms

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

Contact Information

If you have questions:

Additional Information

Additional Information
Max Loan Length30 years
Interest RateMarket
Max Loan AmountNone
Payment FrequencyMonthly
Prepayment PenaltiesNone
FeesVA Funding Fee
Loan Categories
House loans
Housing Loans
Veterans medal
Veterans Loans