The property must be a single-family residence to 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, Townhomes and Condominiums do not qualify. The 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/sell this home prior to the closing of the VHPB loan on the new purchase. A recorded Warranty Deed with Book and Page numbers will be required as proof of divestment.