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17 May, 07:43

Hubert is a veteran of the First Gulf War. What could be a reason for him to seek a VA loan?

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  1. 17 May, 08:02
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    Several VA loans will not require payment in advance

    Explanation:

    A VA loan is a revolving loan issued by a US Department of Veterans Affairs initiative. VA credit benefits members of the military, vets and surviving spouses willing to join the company.

    The VA sets the standards, decides the terms of negotiated loans and assures that half of the loan is covered. Private lenders, like banks and mortgage lenders are responsible for VA domestic loans.

    VA loans support service providers, returning veterans and qualifying wives to be family owners and provide up to 100% home value financing.

    VA loans terms include multiple advantages:

    Down payment is needed except when the lender requires the purchase price or the price is higher than the property's value. Private mortgage loan insurance mandate is not available. The price of closing is reduced and the supplier may pay. The mortgage is not liable for a prepayment fee.
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