Long-term, low down-payment home loans made by private lenders to eligible veterans, the payment of which is guaranteed by the Veteran's Administration in the event of default are known as either VA mortgages or GI loans.

Question

Long-term, low down-payment home loans made by private lenders to eligible veterans, the payment of which is guaranteed by the Veteran's Administration in the event of default are known as either VA mortgages or GI loans.​

Quizplus · Accepted Answer

VA mortgages, also known as GI loans, are indeed long-term, low down-payment home loans made by private lenders to eligible veterans, with the payment guaranteed by the Veteran's Administration in the event of default. This program was established to help veterans purchase homes without needing a large down payment.

Long-Term, Low Down-Payment Home Loans Made by Private Lenders to Eligible