A VA loan is a mortgage loan program available to eligible veterans, Active-duty service members, National Guard members, Reservists, and certain surviving spouses, backed by the U.S. Department of Veterans Affairs (VA). The VA itself does not lend money but guarantees a portion of the loan, which reduces the risk for lenders, allowing them to offer more favorable terms to borrowers. Listed below are the VA Loan guidelines for a Purchase, Primary Home, Single Family Residence Owner Occupied.