Home Loans and Housing Programs
Through VA's home loan and housing programs Veterans and Servicemembers can get access to low-interest home loans or help refinancing an existing mortgage. VA home loans also can be used to buy, build, or improve a home; install energy-related features or improvements; and purchase a manufactured home and/or lot.
There are four different kinds of home loans or housing programs:
- Purchase and Cash-Out Refinance Home Loans
- Interest Rate Reduction Refinance Loan
- Native American Direct Loan Program
- Adapted Housing Grants (for disabled Veterans)
The process for each of these varies. For most programs, you must first obtain a Certificate of Eligibility (COE)—this verifies to the lender that you are eligible for a VA-backed loan. Then, you will work closely with your lender to secure your loan.
To be eligible for a VA-guaranteed home loan you must have suitable credit, sufficient income, and a valid COE. You can ensure a smoother process if you prepare all documents/evidence ahead of time.
To obtain a COE, you must meet certain service requirements. You can apply in one of three ways:
- ONLINE: Through eBenefits.va.gov.
- THROUGH YOUR LENDERS: If they have access to the Web LGY system (most lenders do).
- BY MAIL: Complete VA Form 26-1880 and mail it to Atlanta Regional Loan Center, Attn: COE (262) P.O. Box 100034, Decatur, GA 30031.