Finance
A Florida buyer qualifies for a VA loan. Which of the following is TRUE about VA loans?
AVA loans require a 20% down payment
BVA loans require no down payment for eligible veterans and do not require PMI✓ Correct
CVA loans charge higher interest rates than conventional loans
DVA loans are only available for new construction
Explanation
VA loans, available to eligible veterans, active-duty service members, and surviving spouses, typically require no down payment and do not require private mortgage insurance (PMI), making them very favorable for qualified borrowers.
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