County Veterans Service Officer Association of Wisconsin

Home Loan Guarantee Benefits

What is a V-Guaranteed Loan

V-guaranteed loans are made by private lenders, such as banks, savings and loan associations, or mortgage companies.  To get a loan, you apply to the lender.  If the loan is approved, V will guarantee part of it.  The amount of V's guaranty usually depends on the size of the loan.  This guaranty protects the lender against loss up to the amount guaranteed by V.  The largest guaranty that V can give a lender is $50,750.  Lenders generally limit the maximum V loan to $203,000, which is 4 times the maximum V loan.

V-guaranteed loan offers a number of safeguards and advantages.  For example, the interest rate on a V loan is competitive with conventional rates with little or no down payment required.  The loan guaranty can be used to:

  •    buy a home, a manufactured home, or a condominium
  •    buy a lot for a manufactured home
  •    build, repair or improve a home (including energy efficient improvements)
  •    refinance an existing loan

Who Is Eligible  

Generally, the following groups are eligible:

  • Veterans who were discharged since 9/16/40, under other than dishonorable conditions
  • Military personnel on active duty who have served a minimum period
  • Certain Reservists and National Guard members (until 9/30/07)
  • Surviving spouses of certain deceased veterans

Note: There are certain other groups who may be eligible.  For information about these groups, call V toll free at the number shown below.


How Can I pply

You can apply for a V-guaranteed loan through a private lender.  If you need help in finding a lender, please visit the web site listed below or contact your local County Veterans Service Office.  You will need a V Certificate of Eligibility to prove to the lender you are eligible.  If you don't have a Certificate, your lender can help you apply or you can get one from the nearest County Veterans Service Office.


Related Benefits

Restoration of Entitlement                           Release of Liability/Substitution of Entitlement

Purchase of Repossessed Homes             Veterans Mortgage Life Insurance

Specially dapted Housing                          Direct Loans to Native merican Veterans


To apply for or obtain more information about benefits, contact your local CVSO.

Updated: February 21, 2015 — 11:49 pm
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