VA loans are guaranteed by the U.S. Department of Veterans Affairs and available to eligible active-duty service members, veterans, and some surviving spouses. The headline benefit is no down payment required and no ongoing private mortgage insurance — instead there's typically a one-time VA funding fee (which can be financed into the loan, and is waived for some disabled veterans).
Like FHA loans, VA loans are for owner-occupied properties, not standalone rental investments. Rates are often comparable to or better than conventional loans. Eligibility requires a Certificate of Eligibility (COE) from the VA, based on service history.