The Veterans Administration helps Servicemembers, Veterans, and eligible surviving spouses become homeowners. This benefit was introduced as part of the GI Bill in 1944, designed to help veterans returning from WWII to buy property and become established.
The VA provides a guarantee to lenders who provide loans to help Veterans buy, build, repair, retain, or even adapt home for your own personal occupancy. Although the loan process is completed through a private lender such as a bank, mortgage company, or even some credit unions, the VA guarantees a percentage of the loan. This enables the lender to provide Veterans with more favorable terms such as no down payment and competitive interest rates.
