The VA Loan is a mortgage loan option available to United States Veterans, Service Members and not remarried spouses. VA Loans are issued by qualified lenders and guaranteed by the U.S. Department of Veterans Affairs (VA) VA mortgages are available for no money down for qualified borrowers, and never have any private mortgage insurance (PMI). The no-money-down VA-insured mortgage gives borrowers dealing with tight budgets more flexibility in the all-important early years of the home loan