Here’s some background on the VA loan program, which took shape near the end of World War II and has been used by millions of service members and veterans since then: Nearly 3 million have VA-backed loans at present, and more than 740,000 loans were taken out in fiscal 2017. What it is: The Veterans Affairs Department guarantees a percentage of an eligible beneficiaries home-purchase or home-refinance loan, allowing the lender to provide more favorable terms and often letting the…
Benefits basics: The VA loan program
