CHAPTER FOUR: VA LOANS

Question 1

____ loan- A loan made to qualified veterans for the purchase of real property wherein the Department of Veteran’s Affairs guarantees the lender payment of the mortgage.

Answer 1

VA loans.

Question 2

For VA loans the first step is to obtain a ___ of ____

Answer 2

Certificate of Eligibility

comes from veterans office

Question 3

___ loan- gives homebuyers a way to get a low interest rate and downpayment. Many call them low income loans. 150% of the median income

• can be purchased to improve property.

Answer 3

USDA