Overview of the VA Loan

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Many Veterans believe the VA actually issues the loan for a home.  That is not the case.  The “VA Loan” is simply a mortgage program that is “guaranteed” by the Department of Veterans Affairs (VA).  SInce it’s guaranteed by the VA and you pay a funding fee (unless exempted), you don’t pay monthly private mortgage insurance (see more).  You can apply for the loan through any participating lender.  The lender that I recommend to all my VA clients has the ability to get your Certificate of Eligibility directly from the VA.  Which means you don’t need to hassle with it.

The VA loan can be used for the following purposes:

  • Buy or build a home
  • Buy a residential condominium unit*
  • Repair, alter, or improve a residence owned by the Veteran and occupied as a home
  • Refinance an existing home loan
  • Buy a manufactured home and/or lot
  • Install a solar heating or cooling system or other energy-efficient improvements

Regardless of where you live, I’d be happy to answer questions you have about this program.

As always, thank you for your service,

Brad Williams


Military Relocation Professional

Hoekstra & Reiss | Edina Realty

612-408-1953 | bradwilliams@edinarealty.com