Finance
A North Dakota veteran is eligible for a VA loan. Which of the following is NOT a benefit of VA loans?
ANo down payment required
BNo private mortgage insurance (PMI)
CNo funding fee required✓ Correct
DCompetitive interest rates
Explanation
VA loans do not require a down payment or PMI, and typically offer competitive rates. However, VA loans DO require a funding fee (unless exempt due to service-related disability).
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