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Oregon Department of Veterans Affairs


Now a Lifetime Benefit for Veterans

Since 1946, the Oregon Department of Veterans’ Affairs has helped more than 334,000 veterans realize their dreams of owning a home, loaning over $7.5 billion to veterans.

ODVA offers a state veterans’ home loan that is an additional and distinctively separate benefit from the Federal VA Home Loan Guaranty Program. The current maximum loan amount for a single family, owner occupied residence is $417,000 or a veteran’s remaining eligibility amount if there has been a previous ODVA loan.

The program is designed specifically to provide veterans the lowest interest rate possible and is secured through special federal bonding only available to state home loan programs. ODVA takes pride in achieving consistent high levels of customer satisfaction, and makes every attempt to be flexible and provide and easy application process.

Special Program Notes

•Interest rates are generally below market.
•Closing costs are limited.
•Loans are serviced by ODVA in Salem, not sold to investors.
•No tax service fee.
•15 to 30-year terms.
•No pricing adjustments for manufactured housing classified as real property
•Loans may be re-amortized after unscheduled principal reductions of $3,000 or more.
•Up to 100% financing may be available.
•Guaranteed acceptance loan cancellation life insurance available.
•No recapture or prepayment penalties.
•Loans are NOT limited to “first time” homebuyers.
Loan Terms
•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 in 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.
•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.
Contact ODVA’s Home Loan Department to find out how to apply for a home loan:

Oregon Dept. of Veterans’ Affairs
Home Loan Dept.
700 Summer St NE
Salem, OR 97301-1285

Toll-free within Oregon: 888-ORE-VETS (673-8387)
Outside of Oregon: 503-373-2051

You will also find highly qualified mortage brokers, banks and credit unions which participate in the ORVET Home Loan Program. If you would like to work with someone in your local community, please call our Home Loan Department for a complete listing of participating brokers and lenders that can assist you in the entire home loan application process across the state.

If you currently hold an ORVET Home Loan and would like to automate your payments, follow the instructions on the automation authorization form and return to the Home Loan Department at the address above.