A VA loan is a mortgage option available to eligible veterans, active-duty service members, and certain members of the National Guard and Reserves. It is backed by the U.S. Department of Veterans Affairs, which means lenders can offer favorable terms, such as no down payment and no private mortgage insurance (PMI) requirements. This makes homeownership more accessible for those who have served in the military. To qualify for a VA loan, applicants must meet specific service requirements and obtain a Certificate of Eligibility (COE). The loan can be used to purchase, build, or refinance a home, providing veterans with a valuable financial resource to achieve their homeownership goals.