Veterans Affairs Mortgage

Department of veterans affairs va.

Veterans affairs mortgage. Va direct and va backed veterans home loans can help veterans service members and their survivors to buy build improve or refinance a home. As part of our mission to serve you we provide a home loan guaranty benefit and other housing related programs to help you buy build repair retain or adapt a home for your own personal occupancy. We offer va home loan programs to help you buy build or improve a home or refinance your current home loan including a va direct loan and va backed loans. One of those benefits is 100 financing which can mean a va loan with no down payment for eligible veterans.

The oregon department of veterans affairs is committed to supporting our veteran home loan borrowers and being a source of assistance in this time of uncertainty. Learn more about the different programs and find out if you can get a certificate of eligibility for a loan that meets your needs. Learn about our different loan programs and how to apply. Va helps servicemembers veterans and eligible surviving spouses become homeowners.

And because the va guarantees a portion of these loans for lenders the program can offer special benefits. If you have specific questions regarding va home loan eligibility please contact the regional loan center that has jurisdiction on the state in which the property is located. Please contact us at 1 800 633 6826 or 503 373 2373 for potential assistance options. Mortgage rates are typically lower than conventional loans.

As part of our mission to serve you we provide a home loan guaranty benefit and other housing related programs to help you buy build repair retain or adapt a home for your own personal occupancy. It may be possible for a veteran to obtain a 100 loan up to the current loan limit with no down payment and the seller or builder is allowed to pay a portion of the veteran s closing costs making the total cash required to purchase in some instances zero. This means if a buyer bought a house for 500 000 was foreclosed on the va would cover the lender for any loses up to 125 000. Va home loans are backed by the government and made by approved lenders.

Highlights of a va home loan. The reason va loans are able to charge a lower rate than other mortgages is the veteran s administration guarantees to pay the lender up to 25 of the value of the home. The va loan is a 0 down mortgage option available to veterans service members and select military spouses va loans are issued by private lenders such as a mortgage company or bank and guaranteed by the u s.