Finance
A Montana veteran using a VA loan benefit would be entitled to which of the following advantages not available with conventional financing?
AGuaranteed approval regardless of credit
BNo down payment requirement and no private mortgage insurance (PMI)✓ Correct
CLower interest rates than any market rate
DUnlimited loan amounts with no caps
Explanation
VA loans offer eligible veterans the significant benefit of no down payment requirement (on loans within conforming limits) and no PMI (private mortgage insurance). The VA guarantee replaces mortgage insurance, saving veterans significant money over the life of the loan.
Related Montana Finance Questions
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