Finance
A VA loan is available to:
AAny first-time homebuyer
BEligible veterans, active-duty service members, and surviving spouses✓ Correct
COnly retired federal government employees
DAny buyer who served in any military capacity
Explanation
VA loans are available to eligible veterans, active-duty service members, National Guard and Reserve members (meeting service requirements), and surviving spouses. VA loans typically require no down payment.
Related Idaho Finance Questions
- Under the Truth in Lending Act (TILA), what is the 'annual percentage rate' (APR) and how does it differ from the interest rate?
- What is a 'cap rate compression' in Idaho's real estate market?
- What is a 'wraparound mortgage' in Idaho real estate?
- What is 'loan origination fee' in an Idaho mortgage?
- What is the debt-to-income (DTI) ratio limit generally used by conventional lenders for total housing expense?
- What is the loan-to-value (LTV) ratio on a property appraised at $280,000 with a $224,000 loan?
- What is the federal 'Community Development Financial Institution' (CDFI) and how might it help Idaho buyers?
- What is a 'mezzanine loan' in commercial real estate financing?
Practice More Idaho Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Idaho Quiz →