A loan provided by a private lender that is guaranteed by the Department of Veterans Affairs (VA). The VA does not loan money, but rather provides assurances to the lender on loans that meet their guidelines.
If a borrower has had their loan for a specific time, the loan is “seasoned.” For FHA Streamline Refinancing, a loan is seasoned when it has been held for 210 days and the borrower will need to have made at least six monthly payments.