Finance
A 'VA loan' for eligible Texas veterans has which of the following unique benefits compared to conventional loans?
ANo down payment requirement and no PMI (private mortgage insurance)✓ Correct
BNo income verification required
CUnlimited loan amounts regardless of property value
DGuaranteed approval regardless of credit history
Explanation
VA loans (guaranteed by the Department of Veterans Affairs) allow eligible veterans, service members, and surviving spouses to purchase a home with no down payment and no PMI. There is a VA funding fee (which can be financed) but no monthly mortgage insurance premium. VA loans also have competitive interest rates and flexible credit requirements.
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