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Veterans Administration Home Loan
U.S. Department of Veterans' Affairs
www.vba.va.gov/ro/south/spete/index.htm

Contact


VA Regional Office
9500 Bay Pines Boulevard
St. Petersburg Florida 33708
888 611-5916

Application is generally made to private lending institutions




Program Overview


Veterans Administration Home Loan is a program to provide veterans with no-down payment loans, favorable loan terms, and rehabilitation assistance. There are no restrictions on the location of the property.


Who is eligible for thisTest program?


To qualify for this program, the applicant must be an eligible veteran with an available home loan entitlement; must be able to afford the payments, the costs of the home; and must have a good credit history. Funds may be used for the purchase or rehabilitation of a home.

Is thisTest program for first time buyers only? No


Property Eligibility Requirements


Allowable property types: Single family home, townhouse or condominium (if the project is VA approved); or manufactured home (and a lot) with a price that does not exceed the appraised value of the property.


Benefit Details


The loan may not exceed lesser of the appraised value, or the purchase price plus funding fees and energy improvements.

Benefit: No down-payment loans, usually with a below-market interest rate .
Loan Term:30 years
Homebuyer Counseling /
Education Required:
No
Owner Occupancy Required:Yes
Other Program Comments:Application is made through participating lenders. There is no maximum loan amount; however, most lenders will not do a no-down payment loan on loans in excess of $359,650 due to secondary market restrictions.

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