Mortgage 2

Welcome to your Mortgage 2 Quiz. Click "Next" to continue.

As opposed to conventional loans, a lender will require what documentation for the VA Guaranty Loan?

What is a mortgage?

Mortgage lenders should seek to work with Veterans because it is easier to qualify for the VA Guarantee Home Loan.

What are good reasons for a mortgage broker or lender to work with Veterans? (Select all that apply)

Ralph is an Army Veteran who was active during the first Iraq War. He's tired of renting apartments, but does not want to buy a unattached single family home. What can Ralph do?

Frank is an Army Veteran who served for 2 years during the Korean War. He currently has a non-VA Home Loan mortgage and noticed that mortgage rates have dropped significantly. What would you advise him to do?

Adam, an honorably discharged Navy Veteran, has a VA disability rating of 10% due to hearing loss. While looking for a new home, he saw an advertisement claiming that he may be able to purchase with $0 down and $0 mortgage insurance, as well as Veteran grants up to $81,080.  This ad perked his interest and he called and asked what benefits applied to him. What would be your advice?

Veterans using the VA Home Loan have one of the lowest foreclosure rates.

The more loans a lender can legitimately approve, the more money they make.

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