Finance
A VA-guaranteed loan in Virginia is available to:
AAny Virginia resident who meets income requirements
BEligible veterans, active-duty service members, and surviving spouses✓ Correct
COnly first-time homebuyers in Virginia
DRural property buyers meeting USDA income limits
Explanation
VA-guaranteed loans are available to eligible veterans, active-duty service members, National Guard members, reservists, and certain surviving spouses. There is no Virginia residency requirement.
Related Virginia Finance Questions
- A Virginia borrower's annual mortgage interest is tax deductible up to what loan amount under current IRS rules?
- Points paid by a Virginia borrower on a new home purchase are:
- What does the Truth in Lending Act (TILA) require lenders to disclose to Virginia borrowers?
- A conventional loan with a loan-to-value ratio above 80% typically requires:
- A Virginia buyer's credit score is 580. Which loan type is most likely available to them with a minimum down payment?
- Under RESPA, a Virginia settlement agent must provide the Closing Disclosure to the buyer at least how many business days before closing?
- Which type of mortgage allows the borrower to draw funds as needed, similar to a credit card, secured by home equity?
- A Virginia borrower who applies for a conventional mortgage receives a Loan Estimate. If the borrower wants to compare lenders, the most important number to compare is:
Practice More Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Virginia Quiz →