Guide to VA Loans


The main purpose of the VA home loan program is to help veterans finance the purchase of homes with favorable loan terms and at a rate of interest which is competitive with the rate charged on other type of mortgage loans. For VA housing loan purposes, the term “veteran” includes certain members of the Selected Reserve, active duty service personnel and certain categories of spouses.

This guide should help you to understand what VA can and cannot do for the home purchaser. However, it is not a legal document and should not be interpreted as one Nothing should be taken as a change of law or regulations. The pamphlet does not attempt to go into detail or into unusual problems. Information about VA loans is given in a narrative format followed by questions and answers in those areas of the greatest concern.

It is suggested that the pamphlet be read in its entirety. Please pay particular attention to the information about:

  1. your responsibility to determine the condition of the property you purchase, and
  2. assumption of your VA loan and obtaining a release of liability.

Any questions you have which are not answered here should be referred to the Loan Guaranty Division at the nearest VA regional office, or to your lender who will take them up with VA if necessary. A list of VA offices may be found in the Help section.


  1. Find the property suitable for your needs.
  2. Go to a lender, and apply for the loan.
  3. Present your discharge or separation papers relating to latest period of service and/or a Certificate of Eligibility.
  4. Property is appraised by approved appraiser.
  5. Estimate of property’s reasonable value is determined.
  6. If application is approved, you get the loan.


VA Loan Articles

Read About News, Updates, and Guidelines

:: VA Loans and Estate Agent/Broker Fees

Whether you went searching for an agent or came in contact with one at an open house or similar venue, agents and brokers can be helpful for some people looking for that perfect neighborhood.


If you seek lower monthly payments and a lower interest rate on an existing VA home loan, the VA Interest Rate Reduction Refinancing Loan or IRRRL is designed to help.


The Department of Veterans Affairs has been making interesting strides in its use of Twitter and other social media to help VA borrowers understand their benefits. The VA recently held the second-ever Twitter Town Hall Meeting on veterans benefit topics.


VA field offices handle all sorts of common questions about VA mortgages. One of the common topics is related to what happens to a VA loan or the ability to apply for one after divorce.


There are many questions about VA loans and funding fees. Some borrowers find themselves in situations where they realize they weren’t required to pay the funding fee but due to an oversight there were charged anyway.

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