Module 2 – VA Home Loans

1. Generally, Veterans do not utilize the VA Home Loan program because? (Choose all that apply)
2. The VA Guaranty Home Loan requires what percentage down payment?
3. A Veteran buyer could afford a home worth $30,000 more with the same monthly payment, by simply?
4. At a 6% rate, how much more commission would be earned given the scenario above?
5. VA Home Loan rates are generally how much lower than conventional rates?
6. Another reason why Veterans have greater purchasing power, and thus increased commissions for the realtor is?
7. Once a Veteran has been deemed eligible for the VA Home Loan, when does the benefit expire?
8. VA guidelines state a minimum FICO credit score of 650 to qualify.
9. Jenny was the wife of a service member who died in action. Can you advise Jenny that she can purchase a home with zero down payment and no mortgage insurance?
10. Fred, a Navy Veteran, has always liked rural living. You have found him a farm residence that he would like to live in that fits his budget. Can he utilize the VA Home Loan to purchase the farm residence?

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