Finance
An FHA-insured mortgage in Connecticut requires a minimum down payment of:
A1%
B3%
C3.5%✓ Correct
D5%
Explanation
FHA loans require a minimum down payment of 3.5% of the purchase price for borrowers with a credit score of 580 or higher.
Related Connecticut Finance Questions
- A lender's 'origination fee' is charged to:
- The 'secondary mortgage market' functions to:
- Connecticut's Home Ownership and Equity Protection Act (HOEPA) provisions relate to:
- Which Connecticut government agency primarily regulates mortgage lenders and mortgage servicers in the state?
- Under the Community Reinvestment Act (CRA), banks and savings institutions are required to:
- A Connecticut 'hard money' loan is typically characterized by:
- A Connecticut lender orders an appraisal to ensure that the property:
- What is the purpose of private mortgage insurance (PMI)?
Practice More Connecticut Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Connecticut Quiz →