Finance
Which Iowa loan type is insured by the federal government and requires a mortgage insurance premium (MIP)?
AConventional loan
BFHA loan✓ Correct
CVA loan
DUSDA loan
Explanation
FHA (Federal Housing Administration) loans are government-insured and require payment of a mortgage insurance premium (MIP) — both an upfront MIP and annual MIP — to protect the lender against default.
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