Finance
A South Carolina buyer obtains a VA loan. Which of the following statements about VA loans is correct?
AVA loans require a minimum 5% down payment
BVA loans do not require monthly PMI✓ Correct
CVA loans are only for first-time homebuyers
DVA loans have a maximum loan limit of $100,000
Explanation
VA loans, available to eligible veterans and service members, do not require monthly PMI (though they have a one-time funding fee) and often require no down payment, making them very advantageous.
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