Program: VETERAN HOME LOANS
Agency: UNITED STATES DEPARTMENT OF VETERANS AFFAIRS (VA)
Descriptions
Offers home loan services to veterans to help them buy, build, repair, or adapt a home. This includes the following types of loans:
- Purchase Loans- Helps purchase a home at a competitive interest rate often without requiring a downpayment or private mortgage insurance.
- Cash-Out Refinance Loans- Allows participants to take cash out of their home equity to take care of concerns like paying off debt, funding school, or making home improvements.
- Interest Rate Reduction Refinance Loan (IRRRL)- Can help obtain a lower interest rate by refinancing existing VA loan.
- Native American Direct Loan (NADL)- Helps eligible Native American Veterans finance the purchase, construction, or improvement of homes on Federal Trust Land, or reduce the interest rate on a VA loan.
- Adapted Housing Grants: Helps Veterans with a permanent and total service-connected disability purchase or build an adapted home or to modify an existing home to account for their disability.
*Loans are provided by private lenders, such as banks and mortgage companies. VA guarantees a portion of the loan, enabling the lender to provide more favorable terms.
Eligibility
-Purchase Loans and Cash-Out Refinance: Available for homes for veterans occupancy or a spouse and/or dependent (for active duty service members). Must have satisfactory credit, sufficient income to meet the expected monthly obligations, and a valid Certificate of Eligibility (COE).
-Interest Rate Reduction Refinance Loan (IRRRL): Available for veterans who have an existing VA guaranteed loan on the property.
-Native American Direct Loan (NADL) Program: Available for Native American Veterans. Tribal organization must participate in the VA direct loan program. Must have a valid Certificate of Eligibility (COE)
-Adapted Housing Grants: Available for veterans with certain total and permanent disabilities related to their military service
Application Process
For Purchase Loan, Cash-Out Refinance, Native American Direct Loan (NADL), and Interest Rate Reduction Refinance Loan visit https://www.va.gov/housing-assistance/home-loans/how-to-apply/ to apply. For Adapted Housing Grants, visit https://www.ebenefits.va.gov/ebenefits/about/feature?feature=sah-grant to apply.
Documents
-Purchase Loans, Cash-Out Refinance, and Native American Direct Loan (NADL): Valid Certificate of Eligibility (COE)
-Interest Rate Reduction Refinance Loan (IRRRL): Certification that applicant currently lives in or used to live in the home covered by the loan
-Adapted Housing Grants: Social Security number and VA file or claim number (if applicant has one)
Fees
No fee
Service Areas
- United States
Phone
| (800) 698-2411 | Main Number |
Hours
Mon 8am EST - 5pm EST;
Tue 8am EST - 5pm EST;
Wed 8am EST - 5pm EST;
Thu 8am EST - 5pm EST;
Fri 8am EST - 5pm EST;
Website
Address
Online Resource, Washington, DC
Disabilities Access
Not Applicable
Address
Online Resource, Washington, DC
Listing Managed by: 211s of California | Print Listing
Information last updated: 2024-05-02T00:00:00