VA guaranteed home loans are available to eligible veterans who want to purchase a home or condominium. The difference between VA guaranteed home loans and conventional home loans is that the VA can guarantee up to $417,000 of the total loan, and you do not have to worry about financing a down payment. With a VA guaranteed home loan you get a mortgage with a competitive interest rate and the lender you borrow from is protected if you fail to repay the loan.
How to Apply
You will need to request a Certificate of Eligibility from the VA in order to receive a VA guaranteed home loan. To do this you need to complete VA Form 26-1880, Request for Certificate of Eligibility.
You can apply for a VA loan with any mortgage lender that participates in the VA home loan program. You will need to present your lender with your Certificate of Eligibility to prove that you are eligible to receive a VA guaranteed home loan.
