A VA loan is guaranteed (to the lender) by the U.S. Department of Veterans Affairs (VA). VA loans are a benefit to veterans and offer a great option because they don’t require a down payment (as long as the sales price doesn’t exceed the appraised value) or mortgage insurance. Veterans and active members of the military should check their eligibility before applying for such a loan. VA loans get issued by many regular banks and lenders. While a VA loan can be a great option to a buyer, they are not very popular with some sellers, because they can take a little longer and include an additional inspection. Most counties around Milwaukee have also recently been added to a zone where the VA requires a termite inspection letter, which has to be provided and paid for by the seller!