PSI Virginia Real Estate Practice Exam

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Prepare for the PSI Virginia Real Estate Exam with comprehensive quizzes. Study using flashcards and multiple-choice questions, complete with hints and explanations. Ace your exam with confidence!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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Who is eligible for VA guaranteed loans?

Any homebuyer
Veterans and their families
Low-income earners
First-time buyers only

The correct answer is: Veterans and their families

VA guaranteed loans are a benefit specifically designed for veterans, active-duty service members, and certain members of the National Guard and Reserves, along with some surviving spouses of veterans. This program aims to assist those who have served in the military, providing them with favorable loan terms and conditions, including no down payment and competitive interest rates. The focus on veterans and their families underscores the program’s purpose of supporting those who have made sacrifices for their country, making the benefits exclusive to this group rather than extending them broadly to any homebuyer, low-income individuals, or only first-time buyers. Therefore, the correct choice aligns perfectly with the criteria set forth for VA loans.