Which of the following is a key benefit of a VA loan for eligible veterans?
Correct Answer
A) Allows eligible veterans to purchase a home with no down payment required
A primary benefit of a VA loan, guaranteed by the U.S. Department of Veterans Affairs, is that eligible veterans, active-duty service members, and surviving spouses can finance 100% of the purchase price with no down payment required. VA loans also do not require private mortgage insurance (PMI), though a funding fee typically applies. These benefits are available to qualifying borrowers purchasing properties in Delaware.
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