Finance
What is a 'VA loan' and who qualifies for this mortgage benefit in Pennsylvania?
AA loan from the Veterans Administration offered at 0% interest to disabled veterans
BA mortgage guaranteed by the Department of Veterans Affairs for eligible veterans, active-duty service members, and surviving spouses, with no down payment requirement✓ Correct
CA loan available from the Pennsylvania Veterans Benefits office for first-time buyers
DA special mortgage for buyers purchasing properties near Pennsylvania military installations
Explanation
VA loans are mortgages guaranteed by the U.S. Department of Veterans Affairs, available to eligible veterans, active-duty service members, and surviving spouses. Key benefits: no down payment required, no PMI, competitive interest rates, and limited closing costs. Pennsylvania has a significant veteran population, and VA loans are commonly used in markets near Fort Indiantown Gap, Carlisle Barracks, and in metropolitan areas.
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