Finance
An Arizona buyer secures a VA loan to purchase a home. VA loans are guaranteed by the Department of Veterans Affairs and require:
AA minimum 3.5% down payment
BA minimum 10% down payment
CNo down payment for qualified veterans (100% financing)✓ Correct
DA minimum 20% down payment to avoid PMI
Explanation
VA loans, available to eligible veterans, active-duty service members, and surviving spouses, offer 100% financing with no down payment required (subject to loan limits and the VA funding fee).
Related Arizona Finance Questions
- An Arizona homebuyer is obtaining an FHA loan. The minimum down payment required is typically:
- In Arizona, seller-paid closing costs (concessions) on a conventional loan are limited to a percentage of the purchase price based on the buyer's LTV. For LTVs greater than 90%, the maximum seller contribution is:
- A construction-to-permanent loan in Arizona converts from a construction loan to a:
- A 'lock-in' in Arizona mortgage lending means:
- A 'bridge loan' in Arizona real estate is typically used to:
- A 'jumbo loan' in Arizona is a mortgage that:
- In Arizona, a 'purchase money mortgage' is one that:
- Arizona's limitation on mortgage deficiency judgments after judicial foreclosure applies to:
Practice More Arizona Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Arizona Quiz →