what’s a va loan

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Mortgage loan

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  • What is a VA loan and how does it work?

  • A VA loan is a mortgage issued by private lenders and backed by the U.S. Department of Veterans Affairs (VA). VA loans help U.S. veterans, active duty service members and widowed military spouses purchase homes. Some types of VA loans can also be used to refinance an existing mortgage.

  • What is a VA loan and who is eligible?

  • A VA loan is a mortgage loan available through a program established by the United States Department of Veterans Affairs. VA loans assist service members, veterans and eligible surviving spouses to become homeowners.

  • What is a’VA loan’?

  • What is ‘VA Loan’. VA loans assist service members, veterans, and eligible surviving spouses to become homeowners. The VA sets the qualifying standards, dictates the terms of the mortgages offered and guarantees a portion of the loan. VA home loans are provided by private lenders such as banks and mortgage companies.

  • Does the government issue VA loans?

  • The government does not issue VA loans, but it does partner with private lenders so service members and their families can access this special benefit. The U.S. Department of Veterans Affairs guarantees a percentage of every VA home loan so borrowers don鈥檛 have to make a down payment or pay for private mortgage insurance(PMI).

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