What are VA loans? These are a type of mortgage tailored for military veterans, active service members, and eligible surviving spouses. Backed by the Department of Veterans Affairs, these loans offer numerous benefits, including up to 100% financing and lenient credit score and income requirements, and do not require mortgage insurance though they may include a VA Funding Fee. A VA loan could be an ideal mortgage solution for you if you are a military veteran or active service member with a valid Certificate of Eligibility (COE).