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The law requires a veteran obtaining a VA guaranteed loan to certify that he or she intends to personally occupy the property as his or her home. If the loan is a Streamline Refinance, a veteran needs only to certify that the he or she previously occupied the property as a home.

VA LOAN RATES

National Averages for December 18, 2014

30 YEAR FIXED

3.375% Rate
3.474% APR

15 YEAR FIXED

2.75% Rate
2.93% APR
* disclosures

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- Veteran Documents -

Certificate of Eligibility
and DD-214

GET A VA HOME LOAN

The Law on Occupancy

VA Loan Guidelines

The law requires a veteran obtaining a VA guaranteed loan to certify that he or she intends to personally occupy the property as his or her home. As of the date of certification, the veteran must either (1) personally live in the property as his or her home, or (2) intend, upon completion of the loan and acquisition of the dwelling, to personally move into the property and use it as his or her home within 60 days after the loan closing (reasonable).

The above requirement applies to all types of VA guaranteed loans except Interest Rate Reduction Refinancing Loans (IRRRLs). For IRRRLs, the veteran need only certify that he or she previously occupied the property as his or her home.

VA LOAN ARTICLES

Read About Veteran Mortgage News, Updates, and Guidelines
Which VA Refinancing Loans Require Occupancy?

If you have an existing VA home loan, you already know about the VA occupancy requirement for these loans. But some home owners are confused when it comes to these rules when it’s time to refinance the mortgage.

VA Loans for Guard/Reserve Members

Are you a member of the National Guard or are a Reservist interested in using your VA home loan benefits? Do you know what the basic eligibility requirements for using your VA loan benefits are?

VA Home Loans in Separate States?

Borrowers interested in buying a home with a new purchase VA mortgage are required to certify that they will live in the home personally and that the property is to be used for their personal occupancy.

VA Benefit Updates for Same Sex Couples and Joint Loans

This update to VA home loan rules includes a warning for same-sex married couples who may be eligible for VA mortgage loans. Since not all states recognize same-sex marriages, VA loan procedures and requirements may depend on the location of the borrower.

VA Loans For Non-Home Use?

In general, VA loan rules don’t allow for personal loans or other credit for uses other than buying a home. The VA loan program only guarantees new purchase home loans or refinancing loans.