Finance
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 spouses✓ Correct
CA loan for purchasing vacation properties in Virginia
DA loan from the Veterans Administration at below-market rates for all buyers
Explanation
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.
Related Delaware Finance Questions
- What is private mortgage insurance (PMI) designed to protect?
- What is 'debt-to-income ratio' (DTI) and how does it affect mortgage qualification in Delaware?
- What is a 'correspondent lender' versus a 'mortgage broker' in Delaware mortgage lending?
- Private mortgage insurance (PMI) is typically required when a conventional loan has a down payment of less than:
- In Delaware, what does 'equity' in real estate mean?
- What is a 'Freddie Mac' (Federal Home Loan Mortgage Corporation)?
- What is 'deficiency judgment' in a Delaware mortgage foreclosure?
- What is 'negative amortization' in a mortgage?
Practice More Delaware Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Delaware Quiz →