General Mortgage KnowledgeQuestion 109 of 400
Which loan program is guaranteed by the federal government, is available to eligible veterans, and generally allows 100% financing with no down payment?
a.VA loan
b.USDA loan
c.FHA loan
d.Conventional loan
Explanation
VA loans are guaranteed by the Department of Veterans Affairs for eligible service members and veterans and typically require no down payment. USDA is for rural borrowers, FHA requires 3.5% down, and conventional loans are not government-guaranteed.
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