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A borrower applied for a va guaranteed first time mortgage for $50,000; however, the property appraised for $46,000. if the buyer still wanted to buy the property which could happen?

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Today at 6:01 PM

The answer is VA Loan.

A VA loan is a mortgage loan available through a program established by the U.S department of Veterans Affairs(VA) with VA loans, veterans, service members, and their surviving spouses can purchase homes with little to no down payment and no private mortgage insurance and generally get a competitive interest rate.

What is a VA Loan?

A VA loan is a mortgage offered through a U.S. Department of Veterans Affairs program.
VA loans are available to active and veteran service personnel and their surviving spouses, and are backed by the federal government but issued through private lenders.
VA loans have generous terms, such as no down payment, no mortgage insurance, and no prepayment penalties.

To learn more about VA Loans

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