VA loans are guaranteed by the U.S. Department of Veterans Affairs and offered by approved private lenders. They're available to eligible veterans, active-duty service members, National Guard and Reserves with sufficient service, and unremarried surviving spouses.
The headline benefits are zero down payment, no monthly mortgage insurance (despite low/no down), and competitive interest rates. The trade-off is a one-time funding fee (1.25%–3.3% of the loan), which is usually financed into the loan and waived entirely for disabled veterans.
There's no maximum VA loan amount as long as you qualify, though the lender still has to approve the loan size. VA loans can be reused multiple times and may even be assumable, which is a major advantage in high-rate markets.