Looking to purchase a home? First-time and experienced homebuyers alike may be able to take advantage of VA’s home loan programs. Plus, VA offers housing-related assistance programs for Veterans with certain severe service-connected disabilities.
VA and the National Association of Realtors (NAR) discussed these programs in detail during the #ExploreVA Facebook Live event on June 28 with Maxine Henry, Program Analyst for VA Loan Policy, and Sehar Siddiqi, Federal Housing Policy Representative for NAR.
Henry and Siddiqi provided participants with information about the benefits associated with VA home loans and other housing-related programs, such as mortgage refinancing and adapted housing grants.
“The VA home loan program is a benefit that’s earned based on service to our nation,” says Henry. “There’s no down payment required in most instances, there’s no mortgage insurance required and [it has] very flexible credit underwriting guidelines.”
To receive a VA home loan, the first step is for the Veteran to obtain a certificate of eligibility (COE). “That is the only document that will let the lender know that one is eligible,” says Henry. “Then you want to be pre-approved by a lender.”
To select a home, Henry and Siddiqi recommend enlisting the help of a real estate professional. They also shared information about grants to help eligible service-connected Veterans live independently and fielded a few questions from the audience.
VA representatives were available after the conversation to respond to questions and direct Veterans to resources.
You can encourage Veterans in your network to head to Explore.VA.gov