Main Loan Types
Learn About Mortgage
VA loans are guaranteed loans by federal agencies, allowing lenders to lend money with miniscule risk. However, government doesn't lend the money, they do guarantee repayment to the lender and ensure any potential loss that may incurred if any loan go into default and subsequently foreclosure.
The two main advantages of financing using VA loans are that the VA allows borrowers to finance 100% of the loan amount, and that, the VA only requires proof of veteran status to qualify for the loan.