Finance
A VA loan in NC is guaranteed by the Department of Veterans Affairs. One major benefit is that eligible veterans:
AReceive a fixed interest rate of 3% regardless of market conditions
BCan purchase with no down payment and without private mortgage insurance✓ Correct
CAre exempt from all closing costs
DCan borrow up to $2 million without any limits
Explanation
VA loans allow eligible veterans, active-duty service members, and surviving spouses to purchase homes with no down payment and no private mortgage insurance (PMI), though a VA funding fee typically applies.
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