Finance
Which of the following statements about FHA loans is correct?
AFHA loans require no mortgage insurance
BFHA loans require a minimum 3.5% down payment with qualifying credit✓ Correct
CFHA loans are available only to first-time buyers
DFHA loans have no loan limits
Explanation
FHA loans require a minimum 3.5% down payment for borrowers with a credit score of 580 or higher. They require both an upfront and annual mortgage insurance premium.
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