Minnesota Veteran - Home Loan Benefits

VA offers a number of home loan services to eligible veterans, some military personnel, and certain surviving spouses.

• Guaranteed Loans: VA can guarantee part of a loan from a private lender to help you buy a home, a manufactured home, a lot for a manufactured home, or certain types of condominiums. VA also guarantees loans for building, repairing, and improving homes.
• Refinancing Loans: If you have a VA mortgage, VA can help you refinance your loan at a lower interest rate. You may also refinance a non-VA loan.
• Special Grants: Certain disabled veterans and military personnel can receive grants to adapt or acquire housing suitable for their needs.

Time Limits: There is no time limit for a VA home loan.

www.homeloans.va.gov

Saint Paul Regional Loan Center

Note from the US Dept. of Veterans Affairs about lenders:

• US Dept. of VA guaranteed loans are obtained by making an application to a private lending institution. US Dept. of VA's policy is not to recommend any specific lender.
• When you are choosing a lender, you may want to shop around and compare closing costs, interest rates, and other negotiable costs for a VA guaranteed loan, as they may vary from lender to lender. As a home buyer you may want to contact a lender before signing a contract to purchase a home. The lender can pre-approve a borrower for the maximum loan amount they qualify for. This can save you time when looking for your new home.
• Certain lenders can process VA loans faster than others. These lenders are known as LAPP lenders because they participate in VA's Lender Appraisal Processing Program and do not need to send any paper work to VA until after the home sale is closed.