Finance
A VA loan is available to eligible veterans and offers:
AA maximum loan amount of $100,000
BNo down payment requirement and no private mortgage insurance✓ Correct
CA fixed interest rate of 3% regardless of market conditions
DFinancing only for primary residences over 2,000 square feet
Explanation
VA loans are guaranteed by the Department of Veterans Affairs and offer eligible veterans 100% financing (no down payment) with no PMI requirement, making homeownership more accessible.
Related Nevada Finance Questions
- A Nevada borrower has a $350,000 30-year fixed mortgage at 6.5% interest. Using the factor table, the monthly payment factor is $6.32 per $1,000. What is the monthly principal and interest payment?
- What is the primary purpose of Nevada's anti-deficiency statute (NRS 40.455) in a residential foreclosure?
- The annual percentage rate (APR) on a mortgage is higher than the stated interest rate because APR includes:
- A loan-to-value (LTV) ratio of 80% on a $350,000 property means the loan amount is:
- What is a reverse mortgage and who is eligible in Nevada?
- What is a pre-payment penalty in a Nevada mortgage and how has federal law restricted it?
- What is 'debt-to-income ratio' (DTI) and how do lenders use it in Nevada?
- What does the Truth in Lending Act (TILA) require Nevada lenders to disclose?
Practice More Nevada Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nevada Quiz →