Finance
A Virginia borrower is obtaining a USDA Rural Development loan. Which statement is correct?
AUSDA loans require a 10% down payment
BUSDA loans are available for low-to-moderate-income borrowers in eligible rural areas with no down payment required✓ Correct
CUSDA loans are only available in Northern Virginia
DUSDA loans require private mortgage insurance like conventional loans
Explanation
USDA Rural Development guaranteed loans offer 100% financing (no down payment) for eligible borrowers in rural areas. Virginia has many USDA-eligible areas outside major metro markets.
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