United States Department of Veterans Affairs, Veterans Benefits Administration - Home Loans

United States Department of Veterans Affairs, Veterans Benefits Administration - Home Loans


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General Information
Description of ServiceThe United States Department of Veterans Affairs, Veterans Benefits Administration is responsible for administering The VA's extensive non-medical benefits. Its responsibilities include initial veteran registration, eligibility determination, and five key lines of business (benefits and entitlements): Home Loan Guarantee, Insurance, Vocational Rehabilitation and Employment, Education (GI Bill), and Compensation & Pension.

VA helps Servicemembers, Veterans, and eligible surviving spouses become homeowners. 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.

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.

Types of Assistance:

Purchase Loan
VA can help you purchase a home at a competitive interest rate, and if you have found it difficult to find other financing.

VA's Cash-Out Refinance Loan
For homeowners who want to take cash out of your home equity to take care of concerns like paying off debt, funding school, or making home improvements. The Cash-Out Refinance Loan can also be used to refinance a non-VA loan into a VA loan. VA will guaranty loans up to 100% of the value of your home.

VA Home Loan Guaranty
Most VA Home Loans are handled entirely by private lenders and VA rarely gets involved in the loan approval process. VA "stands behind" the loan by guaranteeing a portion of it. If something goes wrong and you can't make the payments anymore, the lending institution can come to us to cover any losses they might incur. The VA loan guaranty is the "insurance" that we provide the lender.

Interest Rate Reduction Refinance Loan
The VA Interest Rate Reduction Refinance Loan (IRRRL) lowers your interest rate by refinancing your existing VA home loan. By obtaining a lower interest rate, your monthly mortgage payment should decrease. You can also refinance an adjustable rate mortgage (ARM) into a fixed rate mortgage.

Native American Direct Loan
The Native American Direct Loan (NADL) Program provides direct home loans from VA to eligible Native American Veterans to finance the purchase, construction, or improvement of homes on Federal Trust Land, or to refinance a prior NADL to reduce the interest rate.

Housing Grants for Disabled Veterans
VA provides grants to Servicemembers and Veterans with certain permanent and total service-connected disabilities to help purchase or construct an adapted home, or modify an existing home to accommodate a disability. Two grant programs exist: the Specially Adapted Housing (SAH) grant and the Special Housing Adaptation (SHA) grant.
VA's Adapted Housing Grants for Disabled Veterans

Trouble Making Payments
VA Regional Loan Centers have technicians available to conduct financial counseling. This counseling is designed to help you avoid foreclosure. If you want this assistance, call 1-877-827-3702 to reach a Loan Service Representative that can assist you.
Geographical AreaUnited States. (Includes all PA counties: Adams, Allegheny, Armstrong, Beaver, Bedford, Berks, Blair, Bradford, Bucks, Butler, Cambria, Cameron, Carbon, Centre, Chester, Clarion, Clearfield, Clinton, Columbia, Crawford, Cumberland, Dauphin, Delaware, Elk, Erie, Fayette, Forest, Franklin, Fulton, Greene, Huntingdon, Indiana, Jefferson, Juniata,Lackawanna, Lancaster, Lawrence, Lebanon, Lehigh, Luzerne, Lycoming, McKean, Mercer, Mifflin, Monroe, Montgomery, Montour, Northampton, Northumberland, Perry, Philadelphia, Pike, Potter, Schuylkill, Snyder, Somerset, Sullivan, Susquehanna, Tioga, Union, Venango, Warren, Washington, Wayne, Westmoreland, Wyoming, and York counties)
Intake ProcedureApply for your VA benefits at your Local Regional Offices: VA regional offices can assist you with filing the appropriate VA forms.Also, to apply for a specific benefit, visit Applying for Benefits. In addition, VSO's (Veteran Service Organizations) can assist you as well by answering general questions and even petitioning on your behalf for services they believe you are qualified to receive.
 
Client Information
Target PopulationMilitary/Veterans
GenderEither
EligibilityYou may be eligible for VA benefits if you are a: veteran; veteran's dependent; surviving spouse, child or parent of a deceased veteran; uniformed service member; present or former reservist or National Guard member.
 
Contact Information
 
Physical Site Address 1 810 Vermont Avenue NW
Physical Site City, State, Zip Washington, DC 20420
Main Phone 800-827-1000
Hotline Phone Veterans Crisis Line: 1-800-273-8255 (Press 1) or text Get Help NOW to 838255
Web Address www.benefits.va.gov/homeloans
 
 
Affiliated Agency, Programs, and Services
Affiliated Agency: United States Department of Veterans Affairs, Veterans Benefits Administration
Affiliated Program: United States Department of Veterans Affairs, Veterans Benefits Administration - Home Loans
This Service: United States Department of Veterans Affairs, Veterans Benefits Administration - Home Loans
 
Taxonomy Postings
Posted to Categories: Active Military (YN-0500)
Families of Military Personnel/Veterans (YJ-2050)
Foreclosure Prevention Loan Modification/Refinancing Programs (BH-3500.3400-300)
Home Barrier Removal Grants (BH-3000.3520)
Homebuyer/Home Purchase Counseling (BH-3700.3000)
Home Purchase/Mortgage Refinance Loans (BH-3500.3400)
Housing/Shelter (BH)
Loan Counseling (DM-4000)
Personal Financial Counseling (DM-6500)
Special Purpose Home Loans (BH-3500.3400-800)
Veteran Benefits Assistance (FT-1000.9000)
Veteran Home Loans (BH-3500.3400-900)
Veterans (YN-9000)