FinanceIntermediateDelaware Exam
What is a 'VA loan' in Delaware real estate?
AA loan insured by the Veterans Administration for any first-time buyer
BA government-backed mortgage loan available to eligible veterans, active-duty service members, and surviving spousesCorrect
CA loan for purchasing vacation properties in Virginia
DA loan from the Veterans Administration at below-market rates for all buyers
Why A government-backed mortgage loan available to eligible veterans, active-duty service members, and surviving spouses Is Correct
Answer B: A government-backed mortgage loan available to eligible veterans, active-duty service members, and surviving spouses
VA loans are government-backed mortgages guaranteed by the Department of Veterans Affairs. They are available to eligible veterans, active-duty service members, and surviving spouses, typically with no down payment required.
Exam Tip: Finance
Finance questions often involve calculations. Master the T-bar method, understand the difference between conventional and government-backed loans, and know key ratios like LTV and DTI.
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