A VA loan is a loan backed by the US Department of Veteran’s Affairs. VA loans have no down payment options, no mortgage insurance requirement and have absolutely nothing to do with the great state of Virginia. They’re available with 10-, 15-, 20-, 25- or 30-year terms and if you or a family member served in the military this is one of the biggest thank-you-for-your-service’s that you can get. Find out more here. (link to VA page) Oh, and thank you for your service.