Community Affairs – Affordable Mortgage Lending Center
Affordable Mortgage Lending Guide,
Part I: Federal Agencies and Government Sponsored Enterprises
U.S. Department of Veterans Affairs
Part of the mission of the U.S. Department of Veterans Affairs (VA) is to enable service members, veterans, and eligible surviving spouses to become homeowners. The VA provides a home loan guaranty benefit and other housing-related programs to help buy, build, repair, retain, or adapt a home for owner occupancy. VA home loans are provided by private lenders, such as banks and mortgage companies. By obtaining a guaranty for a portion of the loan, private lenders are able to provide borrowers with more favorable terms, such as zero down payments.