Yes, you can request that the Department of Veterans Affairs (VA) deduct mortgage payments from your VA disability compensation or pension. To start, stop or change deductions, fill out this form and return it to the VA.

Please note: If you are a Veteran making your mortgage payment through the Deduction of Benefit process, it is your responsibility to submit a new form to the VA authorizing a change in the deduction from your benefit payment should the mortgage payment amount change.

After the introductory period, the new interest rate is calculated based on the terms outlined in the Note. 

A mortgage recast or re-amortization occurs when you make a large lump-sum payment toward your principal balance and request that your monthly payment be recalculated based on the new lower balance. Your interest rate and loan term remain unchanged, but your monthly payment decreases. This is different from refinancing because there are no closing costs and your original loan terms stay the same. Click here for more information and to determine if a recast is right for you.
 

A buydown mortgage is a way to lower the mortgage interest rate for a set period of time. This can be done by paying an upfront fee, known as discount points, or by having the seller or lender pay for a temporary buydown.

Click here to learn more about our convenient automatic payment methods.