Finance
A VA loan is available to eligible veterans and is unique because it:
ARequires a minimum 10% down payment
BDoes not require a down payment and does not require private mortgage insurance✓ Correct
CIs only available for properties in rural areas
DHas a maximum loan limit of $100,000
Explanation
VA loans are guaranteed by the Department of Veterans Affairs and offer eligible veterans the ability to purchase a home with no down payment and without private mortgage insurance (PMI), although a funding fee is typically charged.
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