Finance
A South Carolina buyer is using a VA loan. Which of the following is TRUE about VA loans?
AVA loans require a 10% minimum down payment
BVA loans are available to any first-time homebuyer
CVA loans require no down payment and no private mortgage insurance✓ Correct
DVA loans are only available for new construction
Explanation
VA loans (available to eligible veterans, active military, and surviving spouses) require no down payment and no PMI. They are guaranteed by the Department of Veterans Affairs and offer competitive interest rates.
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