Veterans Home Purchase Board Offers Additional Savings to Home Buyers

Know a veteran, active-duty military personnel or current member of the Mississippi National Guard or Reserves with more than six years of service that’s in the market to purchase a home in Mississippi?  The Veterans’ Home Purchase Board (VHPB) works with veterans and service members to obtain VA-backed mortgages for homes in Mississippi, including the purchase of homes in Gulfport, Biloxi, Ocean Springs and throughout Coastal Mississippi, with competitive rates, fewer fees and 100% loan to value.  

Those who qualify can take advantage of significant savings over the life of their loan, with interest rates typically ranging from one to two percent below market rate, fixed rates and terms 

To qualify for the benefit, a veteran or service member must:

• Have been  a Mississippi resident immediately prior to entering the service or have established residency in the state for the two years prior to applying for the loan if applying as a veteran or active duty. 
• Obtain a Certificate of Eligibility from the Department of Veterans Affairs.
• Have been discharged from active duty service under conditions other than dishonorable, if applying as a veteran.
• Have six years or more years of service if applying as Reserve or National Guard personnel.
• Have Title 10 U.S. Code for Reserve and National Guard personnel who have been activated for extended active duty service.

Note: Unmarried surviving spouses of the above eligible veterans who died as a result of service or service-connected injuries may also qualify for the program. 

Qualified home purchases must be a single-family residence, located in the State of Mississippi. Purchases of farms, land, mobile homes, townhomes or condominiums do not qualify. Agents at Expect Realty are some of the best in Mississippi at assisting veterans and military members purchase homes in Biloxi, Gulfport, Ocean Springs or any of our other coastal communities.  

If you own a home that is not adequate for your needs at the time of loan application, you will be required to divest/sell the home before your VHPB loan on your new purchase closes. Appropriate paperwork will need to be provided in order to proceed with your home purchase on the Mississippi Gulf Coast.  

In addition to home purchases, the Veterans’ Home Purchase Board can also refinance your existing mortgage for your primary residence with another institution.      

All loans are decisioned locally by Mississippi veterans, and remain with the Veterans’ Home Purchase Board for the life of the loan.

As a veteran-owned real estate brokerage, Expect Realty agents are some of the best in Mississippi in assisting veterans and active duty military purchase homes in Gulfport, Biloxi and Ocean Springs. To learn more about the VHPD, or other programs for veterans and active duty military members, call or text 228.215.1861.