Finance
What is a VA-guaranteed home loan and who qualifies?
AA loan for all veterans with no restrictions
BA loan for eligible veterans, active-duty service members, and surviving spouses with no down payment required✓ Correct
CA low-interest loan for state employees in Virginia
DA supplemental loan for VA benefits recipients
Explanation
VA loans are guaranteed by the U.S. Department of Veterans Affairs for eligible veterans, active-duty service members, and surviving spouses. Benefits include no down payment, no PMI, competitive rates, and limited closing costs.
Related Ohio Finance Questions
- What is a buydown in mortgage financing?
- An Ohio lender who originates a mortgage and immediately sells it to an investor on the secondary market is acting as a:
- What does the annual percentage rate (APR) include that the stated interest rate does not?
- A balloon mortgage in Ohio is characterized by:
- Under Ohio mortgage law, a 'satisfaction of mortgage' should be recorded when:
- Ohio is a 'lien theory' state. This means that when a borrower gives a mortgage:
- Under the Dodd-Frank Act, a Qualified Mortgage (QM) generally prohibits:
- Which federal law requires lenders to provide borrowers with a Loan Estimate (LE) within three business days of receiving a mortgage application?
Practice More Ohio Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Ohio Quiz →