VA (U.S. Department of Veterans Affairs) loans

VA loans are mortgage benefits offered by the U.S. Department of Veterans Affairs to eligible military service members, veterans, and their families. They provide favorable terms, such as no required down payment, competitive interest rates, and no private mortgage insurance (PMI). VA loans aim to make homeownership more accessible and affordable for those who have served, offering support through protections like lenient credit requirements and easier qualification standards. While the VA guarantees a portion of the loan, the actual loan is issued by approved lenders, not the government itself.