Which agency guarantees loans for veterans?

Which agency guarantees loans for veterans?

• A. Federal Housing Administration
• B. Veterans Administration
• C. Department of Housing and Urban Development
• D. National Credit Union Administration

Answer: (B)

The Veterans Administration (VA) is the agency responsible for guaranteeing loans for veterans. This program is designed to provide financial assistance to service members, veterans, and eligible surviving spouses, making it easier for them to access home financing. The VA loan program offers benefits such as no down payment requirements, no private mortgage insurance (PMI), and competitive interest rates, facilitating home ownership for those who have served in the armed forces. The support provided by the VA aims to honor the sacrifices made by veterans while also working to increase the rate of homeownership among them. Through this guarantee, lenders can offer more favorable terms to borrowers, which is a crucial benefit for those transitioning from military to civilian life.

The Veterans Administration (VA) is the agency responsible for guaranteeing loans for veterans. This program is designed to provide financial assistance to service members, veterans, and eligible surviving spouses, making it easier for them to access home financing. The VA loan program offers benefits such as no down payment requirements, no private mortgage insurance (PMI), and competitive interest rates, facilitating home ownership for those who have served in the armed forces.

The support provided by the VA aims to honor the sacrifices made by veterans while also working to increase the rate of homeownership among them. Through this guarantee, lenders can offer more favorable terms to borrowers, which is a crucial benefit for those transitioning from military to civilian life.