Oregon Department of Veterans' Affairs Home Loans

ODVA home loans are mortgage programs offered through the Oregon Department of Veterans’ Affairs (ODVA) designed to assist eligible Oregon veterans, active duty military personnel, and their families in achieving homeownership. These loans are specifically tailored to meet the unique needs of veterans and active service members, offering favorable terms and benefits to make home buying more accessible and affordable.

1. Competitive Interest Rates
   • ODVA home loans offer competitive interest rates, often lower than conventional mortgage rates, helping to reduce your overall borrowing costs.

• No Down Payment Option
  • Qualified borrowers may be eligible for a no down payment option, making it easier to purchase a home without needing significant upfront funds.
• Flexible Credit Requirements
  • ODVA home loans have more flexible credit requirements compared to conventional loans, making it possible for veterans with varied credit histories to qualify.
• Assistance with Closing Costs
  • The ODVA may offer assistance with closing costs, reducing the amount of money needed to complete the purchase of your home.
• Specialized Support and Resources
  • Benefit from specialized support and resources tailored to veterans, including guidance throughout the home buying process and access to educational materials.
• Home Improvement Financing
  • In addition to purchasing a home, ODVA home loans can also be used for home improvements and renovations, helping you to customize your home to meet your needs.

To qualify for an ODVA home loan, borrowers generally need to meet the following criteria:

• Service Requirement: You must be an Oregon veteran, active duty military personnel, or an eligible family member. Specific service requirements may apply.
• Primary Residence: The property must be the borrower’s primary residence.
• Credit Score: While credit requirements are more flexible, a minimum credit score may still be required. Higher credit scores may result in better loan terms.
• Income and Employment: Borrowers must demonstrate stable income and employment to show the ability to manage mortgage payments.
• Property Type: Eligible properties include single-family homes, FHA-approved condominiums, and certain manufactured homes.

ODVA home loans offer a valuable opportunity for Oregon veterans, active duty military personnel, and their families to achieve homeownership with favorable terms and benefits. With competitive interest rates, potential no down payment options, and specialized support, ODVA home loans make it easier for eligible individuals to buy a home and achieve their homeownership goals. Whether you are purchasing a new home or making improvements to your existing one, ODVA home loans can provide the financial support you need. For more information or to start your ODVA home loan application, contact us today. We are here to help you navigate the process and find the best financing solution for your needs!