Finance
A Massachusetts VA loan differs from a conventional loan in that:
AIt requires a minimum 10% down payment from the veteran
BIt is guaranteed by the U.S. Department of Veterans Affairs and typically requires no down payment✓ Correct
CIt has higher interest rates than FHA loans
DIt is only available for new construction
Explanation
VA loans are guaranteed by the U.S. Department of Veterans Affairs and allow eligible veterans to purchase homes with no down payment. VA loans typically offer competitive interest rates and do not require private mortgage insurance (PMI).
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