U.S. Department of Veterans Affairs VA-backed Purchase Loan

U.S. Department of Veterans Affairs VA-backed Purchase Loan is a grant for homebuyers in Statewide, California. VA-guaranteed mortgage. No down payment required. No PMI. Competitive interest rates. Funding fee 1.4%-3.6% (financed; waived for service-disabled). VA-guaranteed first mortgage with no down payment, no PMI, competitive rates, and limited closing costs. Available to eligible service members, veterans, and surviving spouses. This is a nationwide program, so it is available beyond a single state or city. Funding comes from U.S. Department of Veterans Affairs (guaranty).

U.S. Department of Veterans Affairs VA-backed Purchase Loan is structured as a grant, so it is not repaid. Repayment is triggered by per VA loan terms. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

U.S. Department of Veterans Affairs VA-backed Purchase Loan is open to homebuyers who will live in the home as their primary residence. Sourced via Homebuyer Wallet (NT20250003). Eligibility: active-duty military, veterans (90+ days wartime / 181+ days peacetime), National Guard / Reserves (6+ years), surviving spouses of service members KIA. VA funding fee 1.4%-3.6% (can be financed; waived for service-connected disability).

U.S. Department of Veterans Affairs VA-backed Purchase Loan sets its income limit as follows: None (VA underwriting guidelines). Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

U.S. Department of Veterans Affairs VA-backed Purchase Loan can be used for Single-family, Condo (VA-approved), Townhouse, Manufactured (real property), 2-4 unit owner-occupied. Manufactured homes are eligible.

U.S. Department of Veterans Affairs VA-backed Purchase Loan names veterans, active-duty service members, reservists and National Guard members, and surviving spouses among the groups it serves. Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

U.S. Department of Veterans Affairs VA-backed Purchase Loan is a nationwide program, so it is not limited to one state.

Applications for U.S. Department of Veterans Affairs VA-backed Purchase Loan go through the administering agency. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.