This loans provided veterans with low interest rates below the conventional rates in the market. The loan is guaranteed by the Department of Veteran Affairs and is aimed at making home ownership affordable to veterans of war
United States Department of Veterans Affairs (VA) guarantees mortgage loans in the United States in the name of the VA loan.
This scheme is applicable for military members serving US military, American veterans and the spouse who will not remarry. They can use this scheme for purchasing multi-unit properties, single family homes, and new construction projects. However, VA directly doesn’t initiate loans but sets the minimum guidelines and requirements for offering mortgages which could provide financial guarantee loans to the veterans.
