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Oregon Veterans Home Loan - Detail Verified 08/23/10 Last Updated 02/12/2009

Program Overview

Oregon Veterans Home Loan - Detail Verified 08/23/10 Last Updated 02/12/2009 is a fixed-rate, primarily purchase-money, home loan program designed to provide some degree of economic parity to honorably dischared veterans. Veterans did not have to enter the service from Oregon nor be discharged back into the state. ODVA loans are conventional loans, different from federal VA loans. Federal VA forms and disclosures do not apply. Available throughout the State of Oregon

Who is eligible for this program?

To be eligible you must be an honorably discharged veteran who served at least 210 consecutive days on active duty for purposes other than training, unless you were discharged due to a service-connected injury. If you are an honorably discharged veteran and have less than the above mentioned 210 consecutive days of active duty service, you may still qualify if you served in a theater of operations for which a campaign or expeditionary ribbon or medal is authorized by the United States. ODVA loans have no maximum income limitations. Limited to single-family, owner-occupied, primary residences located within the State of Oregon. Maximum % of Sales Price: 100% Is this program for first time buyers only? No

Property Eligibility Requirements

ODVA Loans are available only to eligible qualified veterans purchasing a primary residence within the State of Oregon The sales price cannot exceed $417,000. Allowable property types: Single-family

Benefit Details

The current maximum loan amount for veterans is $417,000. Loan Term: 15 to 30 years Owner Occupancy Required: Yes

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