The purpose of the Oregon Department of Veterans’ Affairs (ODVA) ORVET Home Loan Program is to provide low interest rate home loans to qualified eligible veterans for the purchase of an owner-occupied, single family, primary residence within the State of Oregon.
 
This includes purchases involving certain manufactured housing classified as real property. The goal of the program is to provide a degree of economic parity to those who have served our nation.
 
Federal law strictly limits ODVA's ability to refinance existing mortgages. This loan program is primarily a purchase-money program.

 

Administrative Rules for the Oregon Department of Veterans' Affairs

"...it was the price of their blood and your
Independency, it is therefore more than a common debt, it is a debt of honor." --George Washington, 11 June 1783 

• The current maximum loan amount is $417,000 or a veteran's remaining eligibility if there has been a previous ODVA loan.
• The home being purchased must be within the State of Oregon.
• The home must be the veteran's primary residence.
• By statute, only the veteran and spouse (if applicable) are permitted to sign for financial responsibility or to be vested with title to the home.
• The value of excess acreage or significant outbuildings may not be wholly allowable in the value consideration for a loan. Call ODVA for specific details on specific properties.
• ODVA is prohibited from financing vacation homes, investment, commercial, personal properties, or bare land.
• Course-of-construction loans are not available. ODVA may only loan on completed dwellings.