How to Apply | Requirements | Eligibility | Payment Calculator

Requirements

The state veterans home loan is available to:

• Eligible Wisconsin veterans that apply for a loan within 25 years from date of discharge.
• Eligibility for mortgage loans is limited to veterans who have had qualifying federal active duty military service.

Funding Restrictions

The proceeds may be used only for the purchase or construction of a home that will be the veteran's primary residence.

The maximum loan amount under the Primary Mortgage Loan program is $343,750 from July 1, 2009 to June 30, 2010. However, the maximum loan amount an individual borrower qualifies for depends on a variety of factors such as credit history, income, debt load, down payment, and verified assets.

Refinancing with current funding is limited to TakeOut loans. A Construction TakeOut loan may be made to replace a short-term loan or loans (24 months or less) used for the purpose of constructing a residence and purchase of land.

Eligibility

Before you can apply for a WDVA home loan you must establish eligibility for Wisconsin veterans benefits and then obtain a Certificate of Eligibility for a WDVA home loan. Contact your County Veterans Service Officer for assistance. If you have previously established general eligibility with WDVA, you can request a Certificate of Eligibility for the WDVA home loan online.

How To Apply

Bring your WDVA Certificate of Eligibility to a participating lender when you apply for your state veterans home loan. Local banks, savings and loans, credit unions, and mortgage brokers participate in our home loan program.

For More Information

For loan-specific questions, call 1-800-WIS-VETS (947-8387), or email the Loan Section.

For eligibility and application process questions, contact your County Veterans Service Office.

The information above regarding WDVA loans is not all-inclusive and may change without notice.

WARNING:  The WDVA receives a statewide support lien docket listing all individuals who have a delinquent child-support obligation in Wisconsin. According to state law, the WDVA may not approve a Primary Mortgage Loan or a Home Improvement Loan for any applicant on the docket unless the applicant provides one of the following items:

• Provides a statement signed by the Wisconsin Department of Children and Families or its designee showing that all delinquent obligations have been paid.
• A copy of a child-support repayment agreement that has been kept current for the six month period before the date the WDVA receives the application as long as no lien exists.

Wisconsin Foreclosure Resources

Wisconsin Housing and Economic Development Agency (WHEDA®) has partnered with NeighborWorks® America and Homeownership Preservation Foundation and other resources to provide information and solutions on foreclosure. Visit this website as soon as possible to find what options may be available for your circumstances if you are at risk of being foreclosed.