Which of the following is a key benefit of a VA loan for eligible veterans?
Correct Answer
A) No down payment is required for eligible veterans on qualifying loans
One of the most significant benefits of a VA loan is that eligible veterans can finance up to 100% of the purchase price, meaning no down payment is required. VA loans are guaranteed — not insured — by the Department of Veterans Affairs. Closing costs may still apply, the VA does not set a fixed interest rate, and a VA appraisal (not a standard inspection) is still required for all VA-financed purchases.
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