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Eligible Loan Purposes
(Lender’s Handbook, Chapter 3, Topic 2)
Eligible veterans may obtain loans to:
- Buy an existing home.
- Build a home.
- Simultaneously purchase and improve a home.
- Refinance an existing mortgage loan.
- Cash-out refinance.
- Interest rate reduction refinance.
- Convert an adjustable rate mortgage to a fixed rate.
- Improve a home by installing energy-related features.
Did you know?????
When first issued, the interest rate on VA loans could not exceed 4% and entitlement was limited to $2000.
History :: The Complete Lenders Training Guide :: General Rules For Eligibility :: VA Eligibility Center :: Military Records Centers :: Restoration of Entitlement :: Maximum Loan Amount :: Eligible Loan Purposes :: Interest Rate Reduction Refinance Loans :: Cash Out/Other Refinancing Loans :: Refinance Comparison Chart :: Energy Efficient Mortgages :: Joint Loans :: Farm Residence Loans/Adjustable Rate Mortgages :: Prior Approval Loans :: Guaranty :: Appraisal Assignments :: Special Adapted Housing :: VA Repossessed Properties :: Income Verification :: Assets :: Debts and Obligations :: CAIVRS :: Credit Analysis :: Compensating Factors :: Completing VA Form 26-6393 :: Maintenance and Utility Guidelines :: Automated Underwriting Systems :: Closing Packages :: Seller Concessions :: VA Funding Fee :: Guaranty Procedures :: Quality Review :: VA Forms :: Acronyms :: VA Training Broadcasts :: Jurisdiction Codes :: Regional Loan Centers :: VA Loan Number :: Contacting VA
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