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WDVA's fixed-rate interest is generally lower than other 30-year mortgage loans. No private mortgage insurance is required, and no discount points are charged. A down payment of 5% is required. The loan may not be used to refinance an existing mortgage. After obtaining a certificate of eligibility from a county veterans service office, the applicant may apply for a WDVA mortgage loan through a participating financial institution, such as a bank, credit union or savings and loan. Due to recent legislative changes, WDVA now has sufficient funds for primary mortgage home loans to veterans who have been out of military service more than 30 years or who entered service after 1976.
To apply for or obtain more information about benefits, contact your local CVSO.
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