How to Apply | Requirements | Eligibility | Estatus | Payment Calculator

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Requirements

• Applicants must meet basic credit and underwriting standards.
• A credit report is required to process your loan application. Applicants or guarantors who have a credit report freeze in effect must allow WDVA access to their report.
• Loan must be secured by a mortgage on the applicant’s property or with a guarantor.
• Applicant must have at least 10% equity remaining in the property. (This means the value of the property is at least 10% higher than the total of the existing mortgages including the PLP.)
  
  To determine the minimum value needed, add all existing mortgages plus the proposed PLP loan and divide by 0.9.
  
  To determine the value of the property, WDVA uses the equalized assessed or fair market value, as shown on the property tax statement. The applicant may choose to submit a recent real estate appraisal by a licensed professional.

Eligibility

• Veterans must meet military service and state residency requirements set by the State Legislature.
• Spouses of deceased veterans, who have not remarried, may also qualify.
• Dependent children may qualify (adult children must be under 26 years old and attending school full time).
• A remarried spouse or parent of a veteran’s child may qualify if the loan is used for the child’s education.

How to Apply

There are three ways to apply:

1. If you have established eligibility, apply online.
2. Go to your County Veterans Service Office.
3. Download an application (Adobe PDF) from our website and mail it along with the required supporting documents to WDVA.

*There are no filing fees although the applicant may have to pay for some incidental expenses, such as title report, and recording fees when a mortgage is used as security.

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. Existing borrowers can access account information online through eStatus.

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 Personal Loan for any applicant on the docket unless the applicant does one of the following:

• Provides a statement signed by the Wisconsin Department of Children and Families or its designee showing that all delinquent obligations have been paid.
• Provides 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.
• If the loan proceeds are sufficient to pay the child-support arrearage in full, agrees to have the loan proceeds applied to the child-support arrearage.