Finance
A North Dakota buyer obtains a VA loan. Which of the following is true about VA loans?
AThey require a minimum 10% down payment
BThey require private mortgage insurance (PMI)
CThey are available with no down payment requirement for eligible veterans✓ Correct
DThey are only available for new construction
Explanation
VA loans are available to eligible veterans and active-duty service members with no down payment requirement and no private mortgage insurance (PMI), though a VA funding fee typically applies.
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