Finance
In South Dakota, a VA loan guaranteed by the Department of Veterans Affairs benefits eligible veterans by:
ARequiring no down payment and no private mortgage insurance in most cases✓ Correct
BProviding a 50% reduction in property taxes for VA loan holders
CGuaranteeing the lowest possible interest rate
DLimiting the property types eligible for purchase
Explanation
VA loans provide significant benefits to eligible veterans, including the ability to purchase with no down payment and no private mortgage insurance (PMI) requirement. The VA guarantees a portion of the loan, reducing the lender's risk and eliminating the need for PMI.
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