A possible advantage of FHA and VA mortgages can be:
A)higher debt ratios are required of buyers.
B)loans may be assumable.
C)the high interest loans are attractive.
D)the monthly payments will always be higher than those of other mortgages.
E)higher down payments are required of buyers.

Question

Quizplus · Accepted Answer

Loans from the Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA) can be assumable, meaning a buyer can take over the seller's loan under the same terms, which can be a significant advantage if the existing loan's interest rate is lower than current market rates.

A Possible Advantage of FHA and VA Mortgages Can Be