Veterans and service members considering purchasing a home may be eligible for a unique home loan benefit that may offer better terms than a traditional loan. The U.S. Department of Veterans Affairs (VA) guarantees home loans and offers other housing-related programs to help veterans, service members and eligible spouses to buy, build, repair or adapt a home for personal occupancy.
VA Home Loans were created to help military members and their spouses purchase homes without the need for excellent credit, a down payment or mortgage insurance. Although they are guaranteed by the federal government, the loans are issued through private lenders, such as banks and mortgage companies. Because a portion of the loan is guaranteed, lenders are incentivized to provide veterans with more favorable terms.
Contact a Regional Loan Center for loan eligibility questions and information.
Visit the Veterans Services page for more information on programs and services available.