Finance
A Florida buyer applies for an FHA loan. The maximum loan-to-value (LTV) ratio for FHA loans with the lowest down payment is:
A90%
B95%
C96.5%✓ Correct
D100%
Explanation
FHA loans allow a maximum LTV of 96.5%, requiring only a 3.5% minimum down payment. This makes FHA loans accessible to buyers with limited savings, though mortgage insurance premiums (MIP) are required.
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