Finance
An Arizona homebuyer who is a veteran with a 100% service-connected disability is exempt from paying:
AAll closing costs on a VA loan
BThe VA funding fee on a VA loan✓ Correct
CProperty taxes on their home
DBoth the funding fee and private mortgage insurance
Explanation
Veterans with a service-connected disability rating of 10% or higher are exempt from paying the VA funding fee—one of the significant benefits for disabled veterans using the VA home loan program.
Related Arizona Finance Questions
- In Arizona, a lender who fails to comply with TRID disclosure requirements may face:
- A buyer purchases a home for $350,000 with a 20% down payment. What is the loan-to-value (LTV) ratio?
- Discount points paid by a buyer at closing on an Arizona home loan have the effect of:
- An Arizona homebuyer is obtaining an FHA loan. The minimum down payment required is typically:
- The Truth in Lending Act (TILA) requires lenders to disclose the:
- Private Mortgage Insurance (PMI) is typically required when a conventional loan's loan-to-value ratio (LTV) exceeds:
- In Arizona, the trustee's sale (non-judicial foreclosure) process under a deed of trust requires a minimum notice period before the sale of:
- An Arizona adjustable-rate mortgage (ARM) with a '5/1' structure means:
Practice More Arizona Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Arizona Quiz →