VA Loan
Also known as Veterans Affairs Loan
A mortgage for eligible veterans and service members, often with no down payment required.
In plain English
VA loans are guaranteed by the Department of Veterans Affairs for eligible veterans, active-duty service members, and some surviving spouses. They typically require no down payment and no ongoing mortgage insurance, though a funding fee usually applies.
If you're eligible, a VA loan is often the single best financing option available — confirm your eligibility with a Certificate of Eligibility before assuming you don't qualify.
Where you'll run into it
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