Finance
An Iowa buyer obtains a VA loan. Which of the following is TRUE about VA loans?
AVA loans always require a 5% down payment
BVA loans require monthly mortgage insurance premium payments
CVA loans are available to eligible veterans and service members with no down payment required✓ Correct
DVA loans have a maximum loan amount of $100,000
Explanation
VA loans, guaranteed by the U.S. Department of Veterans Affairs, are available to eligible veterans, active-duty service members, and surviving spouses. They typically require no down payment and no private mortgage insurance, though a funding fee is charged.
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