Finance
A Mississippi homebuyer qualifies for a VA loan. A key benefit of a VA loan is:
AIt requires no mortgage insurance and no down payment for eligible veterans✓ Correct
BIt offers a below-market interest rate set by the VA
CIt has no loan limits regardless of purchase price
DIt does not require an appraisal
Explanation
VA loans offer several benefits: no down payment required, no private mortgage insurance (PMI), competitive interest rates, and easier qualification requirements. The VA does not set the interest rate (lenders do), loan limits have been removed for most eligible veterans, and VA appraisals (VA fee appraisals) are still required.
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