VA Loans
VA Loans are designed to offer long-term financing to veterans. VA mortgage loans are issued by federally qualified lenders and are guaranteed by the U.S. Veterans Administration. The VA determines eligibility and issues a certificate to qualifying applicants to submit to their mortgage lender of choice. It is generally easier to qualify for VA loans versus conventional loans. As of 2020, there is no loan limit but an increase in funding fee at 3.6%.