Program DescriptionThe Veterans Affairs (VA) home loan program guarantees loans made to eligible Veterans, Servicemembers, Reservists, National Guard members and certain surviving spouses to obtain, retain and adapt a home.
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 loans may also be refinanced. Go to Home Loan Interest Rate Reduction Refinancing to see the program requirements.
General Program Requirements
Persons who may qualify for VA-guaranteed loans include:
- Reserve and National Guard members (called to active duty)
- Active duty Servicemembers
- Current Reserve and Guard members (usually after six years of reserve service)
- Certain surviving spouses
Commissioned Officers of the Public Health Service and National Oceanic and Atmospheric Administration are considered to be active duty members and Veterans, once discharged.
Length-of-service requirements apply in most cases.
Generally, in order to receive VA benefits and services the Veteran/Servicemember's character of discharge or service must be under other than dishonorable conditions (e.g., honorable, under honorable conditions, general). However, Reserve and National Guard members must have an honorable discharge. Sometimes Veterans/Servicemembers receiving undesirable, bad conduct, and other types of dishonorable discharges may qualify for VA benefits depending on a determination made by VA.
Loan TermsMarket Interest Rate, VA funding fee and no pre-payment penalties. Maximum loan term cannot exceed 30 years. No maximum loan amount; monthly payment frequency.
Your Next StepsThe following information will lead you to the next steps to apply for this benefit.
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.
Program Contact Information
- 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.
To apply for additional Veterans' benefits and view your benefit status, open an eBenefits Premium account. eBenefits is a one-stop source for information on Department of Defense and Department of Veterans Affairs benefits and services. With a free Premium level eBenefits account, Veterans and Servicemembers can conduct self-service transactions such as checking claim status information, GI Bill enrollment, and obtaining copies of civil service preference letters, DD214, and other personal information. For further information and to register for a free Premium level account, visit the eBenefits website.