Finance
A VA loan benefit includes:
ANo down payment required and no private mortgage insurance✓ Correct
BA down payment of at least 3.5% is required
CAutomatic approval regardless of credit score
DFinancing only for first-time homebuyers
Explanation
VA loans, available to eligible veterans and service members, allow 100% financing (no down payment) and do not require private mortgage insurance. They do charge a funding fee, which can be financed into the loan.
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