VA guaranteed loans are made to eligible veterans for the purchase of a home which must be for their own personal occupancy. With a loan approval, VA will guarantee a portion of the loan to the mortgage lender.
This guaranty protects the lender against loss up to the amount guaranteed and allows a veteran to obtain favorable financing terms. A veteran still has to be qualified for their income and credit for the asking price of a purchase. 100% financing is subject to Veteran’s eligibility.