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Mortgage Loan Glossary - 'V'

Use the alphabet letters below to navigate to the words in this glossary.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

- V -

VA loan

A loan for veterans backed by the Department of Veterans Affairs (VA), that requires very low or no down payment and has less stringent requirements for qualification. A funding fee of approximately 2% of the loan amount is usually required. Usually, to be eligible for a VA loan, the borrower must have served at least 181 days of active duty or at least 6 years in the National Guard.
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