Primary Home Loan

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  • Veterans can obtain a Federal Home loan for their primary residence.
  • Interest rates are not set by the VA and are negotiated with the bank.
  • The VA guarantees a percentage of the loan. The amount varies with the size of the loan, and is issued to protect lenders so they may make loans to eligible borrowers.
  • Because the lenders are able to obtain this guaranty from the VA, borrowers do not need to make a down payment, provided they have enough home loan entitlement. Borrowers also do not have to purchase Private Mortgage Insurance (PMI).
  • A Certificate of Eligibility is required to obtain a VA Federal Home Loan. To obtain this certificate, use VA Form 26-1880.

For further details, go to the VA Home Loans website