VA loans are a type of mortgage that is provided to military members, veterans, and eligible surviving spouses. These loans are guaranteed by the Department of Veterans Affairs and allow borrowers to purchase or refinance a home with little or no down payment. VA loans typically have more relaxed credit requirements and offer lower interest rates than traditional mortgages. They also provide additional benefits, such as no private mortgage insurance and the ability to finance certain home improvements. Overall, VA loans serve as a valuable option for those who have served or are currently serving in the military.