Missouri's Guide to Housing Assistance Programs

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VETERANS' AFFAIRS

ELIGIBILITY:

• Veterans who served on active duty and were discharged under conditions other than dishonorable
• Reservists and National Guard may qualify under certain conditions. (For more information contact VA.)

VA guaranteed loans are made by private lenders, such as banks, savings & loans, or mortgage companies to eligible veterans for the purchase of a home, which must be for their own personal occupancy. To get a loan, a veteran must apply to a lender. If the loan is approved, VA will guarantee a portion of it to the lender. This guaranty protects the lender against loss up to the amount guaranteed and allows a veteran to obtain favorable financing terms. There is no maximum VA loan but lenders will generally limit VA loans to $240,000.

VA LOANS OFFER THE FOLLOWING IMPORTANT FEATURES:

• Equal opportunity for all qualified veterans to obtain a VA loan.
• Down payment not always required.
• VA assistance to veteran borrowers in default due to temporary financial difficulty.

VA ALSO OFFERS LOANS FOR OTHER TYPES OF HOMES:

• Manufactured
• Mobile
• Modular

HOW CAN I OBTAIN MORE INFORMATION ABOUT VA HOME LOANS?

Call VA at 1-800-827-1000 or contact a local lender or real estate professional.

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[ Cover | Table of Contents | Introduction | What are My Options? | How Do I Qualify? | Financial Eligibility | Applying for Services | When Can I Access Housing? | What Do I Have to Pay? | What if I reside in a Nursing Home? | Affect the Number of Low Income Units | Section 202 | Section 811 | Mainstream Housing | Section 8 | Shelter Plus Care | Housing Opportuntities for Persons with Aids | Low Income Housing Tax Credit | Home Program | First Place Loans | Home Down Payment Assistance | Habitat for Humanlity | Veterans' Affairs | Fannie Mae Home-Choice Loans | USDA 504 | Home Repair Opportunity | Low-income Weatherization | Show Me Loans | Medicaid Waivers | Missouri Property Tax Credit | Other Agencies to Contact | Information to Know: Agency Listing | Glossary ]

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