Home Loan

  • Veterans can obtain a Federal Home loan for their primary residence

  • Interest rates are not set by the VA and are negotiated with the bank

  • The VA guarantees a percentage of the loan.  The amount varies with the size of the loan, and is issued to protect lenders so they may make loans to eligible borrowers

  • Because the lenders are able to obtain this guaranty from the VA, borrowers do not need to make a down payment, provided they have enough home loan entitlement.  Borrowers also do not have to purchase Private Mortgage Insurance (PMI)

  • A Certificate of Eligibility is required to obtain a VA Federal Home Loan.  To obtain this certificate, use VA Form 26-1880