About Veterans Home Loan Options

Dated: 11/11/2019

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VA helps Service members, Veterans, and eligible surviving spouses become homeowners. 

 VA Home Loans are provided by private lenders, such as banks and mortgage companies. VA guarantees a portion of the loan, enabling the lender to provide you with more favorable terms.

Your length of service or service commitment, duty status and character of service determine your eligibility for specific home loan benefits. Here are some examples of VA loans and a bit about what makes a candidate eligible for these opportunities:

  •  Purchase Loans and Cash-Out Refinance: VA-guaranteed loans are available for homes for your occupancy or a spouse and/or dependent (for active duty service members). To be eligible, you must have satisfactory credit, sufficient income to meet the expected monthly obligations, and a valid Certificate of Eligibility (COE). 

  • Interest Rate Reduction Refinance Loan (IRRRL): The IRRRL is a "VA to VA" loan, meaning it can only be done if you have an existing VA guaranteed loan on the property. The IRRRL is generally performed to lower the interest and reduce the monthly payment on the existing VA guaranteed loan. 

  • Native American Direct Loan (NADL) Program: The NADL program helps Native American Veterans purchase, construct, improve, or re-finance a home on Native American trust lands. Your tribal organization must participate in the VA direct loan program. You must have a valid Certificate of Eligibility (COE). 

  • Adapted Housing Grants: VA helps Veterans with certain total and permanent disabilities related to your military service obtain suitable housing with either a Specially Adapted Housing (SAH) or Special Housing Adaptation (SHA) grant. 

Thank you to all who have or are currently serving our nation, Happy Veteran's Day.

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Justin Bresson

Justin was born and raised on the Main Line in Bala Cynwyd, just outside of Philadelphia. He graduated from the University of Delaware with a Bachelor of Science in Marketing. After graduation, Justin....

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