FinancingQuestion 69 of 120
A key benefit of a VA-guaranteed loan for an eligible veteran is:
a.No credit check
b.The possibility of no down payment
c.A guaranteed low fixed rate set by law
d.Exemption from property taxes
Explanation
VA loans are guaranteed by the Department of Veterans Affairs and often allow eligible veterans to purchase with no down payment. The guarantee protects the lender against loss. Veterans still must qualify based on income and credit and pay a funding fee.
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