Which government-backed loan program requires no down payment for qualified veterans and has no PMI?

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Multiple Choice

Which government-backed loan program requires no down payment for qualified veterans and has no PMI?

Explanation:
A VA loan is designed for eligible veterans and their families and is backed by the Department of Veterans Affairs. Because it’s government-guaranteed, lenders can offer zero down payment to qualified buyers and do not require private mortgage insurance. Instead, there is typically a VA funding fee (sometimes waived or financed into the loan) rather than PMI. This combination—no down payment for veterans and no PMI—is a hallmark of the VA program. Other government-backed options may require a down payment or include some form of mortgage insurance, so they don’t fit both conditions as cleanly.

A VA loan is designed for eligible veterans and their families and is backed by the Department of Veterans Affairs. Because it’s government-guaranteed, lenders can offer zero down payment to qualified buyers and do not require private mortgage insurance. Instead, there is typically a VA funding fee (sometimes waived or financed into the loan) rather than PMI. This combination—no down payment for veterans and no PMI—is a hallmark of the VA program. Other government-backed options may require a down payment or include some form of mortgage insurance, so they don’t fit both conditions as cleanly.

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