VA Loan Program

VA-Home-LoanVeteran Association Loan Summary

The VA Loan Guaranty Service is the organization within the Veterans Benefits Administration responsible for administering the VA home loan program. The VA will guarantee 25 percent of a home loan up $1,000,000 with zero down payment. All VA loans require a VA funding fee which may be financed into the loan in most cases. VA loans allow up to a 4% concession paid by the seller which may go towards the funding fee and prepays. VA guaranteed loans are made by private lenders, such as banks, savings & loans, or mortgage companies to eligible veterans for the purchase of their primary residence only. Veterans are not automatically eligible, they must qualify for the program.

Who is eligible for a VA loan?

  • Veterans
  • Active Duty Personnel
  • Reservists
  • National Guard Members
  • Some Family Members

You will need a Certificate of Eligibility before you can get a VA loan. You can apply by mail for your certificate and in most cases you can apply online or through your lender.

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