VA Vendee Program Facts

VA Vendee Program Facts & Info:

VA Vendee Financing Program offers 5% down financing for Real Estate Investors, and is now administered by the Bank of America.  It used to be called the VA Repo, or OCWEN program.

Click here to download a VA Vendee Financing Program flyer.

If you have access to the MLS, search for “veteran” in the seller name to match Department of Veteran Affairs. Another hint is if it is a foreclosure and you need a pre-approval letter from BoA.  You can  do MLS search on my website at  Find properties & pre-approval info at:

VA Vendee Financing Program Quick Facts:

  • Any purchaser can apply for Vendee Financing. You do not have to be a Veteranva vendee financing program
  • Vendee Financing is available for non-owner and owner occupied buyers
  • 4.5% Interest Rates a of today
  • The seller may contribute up to 6% of the contract sale price for closing costs
  • 2.25% VA Funding Fee
  • No pre-payment penalties
  • An appraisal is not required for underwriting
  • Seller may contribute up to 6% of the contract sales price to pay for funding fee, closing costs, prepaid and other expenses
  • Vendee Financing is not a credit score driven product
  • Vendee mortgages are assumable by qualification
  • There are two available terms, a 15 and 30 year fixed rate
  • Can be financed with as little as 0% down. The loan amount may be increased up to 2% to finance closing costs, prepaids or other expenses. Funding fee may not be financed

Non-owner occupied (Investors)  buyers only:

  • No maximum number of investment properties
  • Can be financed with as little as 5% down. Investors may use 75% of anticipated rent based on appraiser’s estimate to offset against the subject property monthly payment
  • Investors must have experience managing rental properties to include anticipated rent on subject property in underwriting

For basic VA Vendee Program, go to the previous post called VA Vendee Financing Program Offers 5% Down for Investors.

Any other facts & data I might’ve omitted?  Please contribute your experience in Comments.

Other BofA VA Vendee Loan Program posts and Forum discussions:

  1. My VA Vendee’s Loan officer contact info –
  2. VA Vendee Loan program basics –
  3. VA Vendee Program for Investors –
  4. A great discussion forum from those who bought through VA Vendee Investor Loan Program –


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3 Responses to “VA Vendee Program Facts”

  1. Mariyn Says:

    If a VA Vendee financing eligible home is in such a condition that homeowners insurance isn’t available what is your option for insuring this home?

  2. Angella Raisian Says:

    Will VA Vendee even give you a loan if a house is uninsurable? If yes, fix it up and insure it later. I did that with a house I had free and clear – fixed it up and got insurance a year later

  3. Marcy Wilson Says:

    Cola Gavin at BoA says they are no longer handeling VA Vendee homes. Can you provide the info of who is now handling them, if the same 5% down applies, and provide a website where the VA Vendees are listed?
    Thank you,

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