ODVA Announced Interest Rate Increase for OrVet Home Loan Program
New rates are in effect for the Oregon Veteran Home Loan Program. As of August 23, 2023, the ODVA Home Loan Program increased all program interest rates for new loan submissions by 0.250%. The unrestricted rates remain unchanged. Click here or follow the link below to download the rate sheet flyer above for full details. Link: https://content.govdelivery.com/attachments/ORDVA/2023/08/30/file_attachments/2599589/ORVetRateSheet.pdf
This affects new loans with a lock/reservation submitted on or after the date listed above. It does not affect existing loans or newly submitted loans that have received a lock/reservation prior to the new effective date. Be reminded that rates and fees are subject to change at any time without advance notice.
If you qualify, you may receive a max loan amount of $726,200. The Oregon Department of Veterans’ Affairs fund loans through our network of state-wide origination partners and services its own home loans, and is proud to offer competitive rates that, in general, meet or is below market rates.
The Oregon Veteran Home Loan Program offers eligible veterans low fixed-rate financing for owner-occupied, single-family residences in Oregon. The veteran home loan product is a non-expiring, lifetime benefit for any eligible Oregon veteran and may be used up to four times.
To be eligible, a veteran must have served on active duty with the U.S. Armed Forces and must meet one of the service criteria outlined on ODVA’s website. For more information about the Oregon Department of Veterans’ Affairs Veteran Home Loan, please visit www.orvethomeloans.com or call 800-633-6826.