Finance
What is an 'FHA loan' and what are its key advantages for Hawaii first-time buyers?
AA. A loan exclusively for Hawaii military veterans with no down payment requirement
BB. A federally insured loan requiring as little as 3.5% down payment for borrowers with 580+ credit scores, accessible to first-time and lower-income buyers✓ Correct
CC. A Federal Housing Administration loan with no mortgage insurance requirement
DD. A loan only available for properties in designated FHA zones in Hawaii
Explanation
FHA loans are federally insured by the Federal Housing Administration. Key benefits: low down payment (3.
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