Finance
An Ohio buyer obtains a VA loan. Which of the following is TRUE about VA loans?
AThe veteran must make a 3.5% minimum down payment
BNo down payment is required for eligible veterans up to the conforming loan limit✓ Correct
CVA loans are only available for new construction
DVA loans require monthly mortgage insurance premiums
Explanation
Eligible veterans can obtain VA loans with no down payment up to the conforming loan limit. VA loans do not require monthly mortgage insurance (PMI), though a one-time funding fee typically applies.
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