A VA Loan is Designed to offer long-term financing to veterans. VA mortgage loans are issued by federally qualified lenders and are guaranteed by the U.S. Veterans Administration. The VA determines eligibility and issues a certificate to qualifying applicants (active duty, veterans and surviving spouses) to submit to their mortgage lender of choice. It is generally easier to qualify for a VA loan than conventional loans.
VA entitlement is a lifetime benefit that is reusable. VA loan perks include 100% financing, flexible qualifying guidelines, and no monthly mortgage insurance, just to name a few.