VA loan is an excellent mortgage program that’s exclusively available for qualified veterans, active service members, and their spouses. The mortgage is available through a program established by the U.S. Department of Veterans Affairs (VA) and is backed by the federal government. VA loans have generous terms, lenient requirements, and flexible repayment options. With 100% financing available, eligible borrowers can use their VA loan to build/ purchase a home, improve and repair their home, or refinance a mortgage.