VA-guaranteed loans are made by private lenders, such as banks, savings and loan associations, and mortgage companies.  The borrower must apply to the lender.  To find a lender, the real estate broker who is already involved can assist, or visit VA on the Internet.   

When the loan is approved, VA will guarantee part of it.  The amount of VA's guaranty usually depends on the size of the loan.  This guaranty protects the lender against loss up to the amount guaranteed by VA.  The largest guaranty that VA can give is an amount equal to 25% of the Freddie Mac conforming loan limit for single-family residences.