The Veterans Administration helps Servicemembers, Veterans, and eligible surviving spouses become homeowners. The VA provides a guarantee to lenders who provide loans to help Veterans buy, build, repair, retain, or even adapt a home for personal occupancy. Although the loan process is completed through a private lender such as a bank, mortgage company, or even some credit unions, the VA guarantees a percentage of the loan. This enables the lender to provide Veterans with more favorable terms such as no down payment and competitive interest rates.