I've noticed quite a few eligible veterans don't know about this benefit offered by MS. I went through the VHPB to purchase my house a couple of years ago and got a 15 year for 4.5%. If you have a disability rating you can wave some of the closing costs as well. If you are looking to buy a house, this is a great way to go. Of course it has drawbacks such as a $195,000 limit, you can't be preapproved and like any other government program there is a stack of paperwork. http://www.vhpb.state.ms.us/about_us.html The maximum loan limit is $195,000 plus the DVA funding fee. The interest rate is fixed for the term of the loan. Interest rates are typically 1 to 2 percent below market rates. Available terms are 10, 15, 20, 25, and 30 year monthly amortizations. Hazard insurance and taxes are collected monthly along with payments and placed in an escrow account. Current 20, 25, & 30 year rates are 4.50%. Current 10, 12, & 15 year rates are 4.00%.