Finance
Which type of mortgage loan is guaranteed by the U.S. Department of Veterans Affairs and available to eligible veterans purchasing property in Mississippi?
AFHA loan
BUSDA loan
CVA loan✓ Correct
DConventional conforming loan
Explanation
VA loans are guaranteed by the U.S. Department of Veterans Affairs and available to eligible veterans, active-duty service members, and surviving spouses. They typically require no down payment.
Related Mississippi Finance Questions
- A Mississippi lender offers a 2/1 buydown on a mortgage. This means the interest rate is:
- A Mississippi lender offers a mortgage with 'points' to buy down the interest rate. One discount point equals:
- Discount points paid on a Mississippi mortgage loan are used to:
- The loan-to-value (LTV) ratio on a property appraised at $250,000 with a $200,000 loan is:
- A Mississippi borrower's debt-to-income (DTI) ratio is 45%. Most conventional lenders prefer a DTI no higher than:
- A conventional loan is best described as a mortgage that:
- The loan-to-value (LTV) ratio is calculated as:
- Private Mortgage Insurance (PMI) is typically required in Mississippi when a conventional loan has a loan-to-value (LTV) ratio greater than:
Practice More Mississippi Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Mississippi Quiz →