Finance
Which of the following is a primary advantage of an FHA loan for first-time homebuyers?
ANo mortgage insurance is required
BLower minimum down payment (3.5%) compared to conventional loans✓ Correct
CNo income limits or property restrictions
DInterest rates are always lower than conventional loans
Explanation
FHA loans require as little as 3.5% down payment for borrowers with credit scores of 580 or higher.
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