Property must be a single family residence to qualify. Townhomes with fee simple title to the lot may qualify. Permanent financing of a construction loan to construct a single family residence is also available, subject to VA guidelines. Farms, raw land, mobile homes and condominiums do not qualify. Property must be located in the state of Mississippi.
The Veterans' Home Purchase Board cannot refinance your equity or an existing permanent home mortgage. If you own a home that is not adequate for your needs at the time of loan application, according to the laws that govern this Agency, you will be required to divest yourself of this home prior to the closing of VHPB loan on the new purchase. A recorded Warranty Deed with Book and Page numbers will be required as proof of divestment.