The NC Housing Finance Agency (NCHFA) provides which type of assistance to homebuyers?
Why Below-market rate first mortgage loans, down payment assistance, and programs for first-time and low-to-moderate income buyers Is Correct
Answer B: Below-market rate first mortgage loans, down payment assistance, and programs for first-time and low-to-moderate income buyers
Exam Tip: Finance
Finance questions often involve calculations. Master the T-bar method, understand the difference between conventional and government-backed loans, and know key ratios like LTV and DTI.
Key Finance Terms in This Question
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Key Terms to Know
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
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Discount PointsPrepaid interest paid to a lender at closing to reduce the mortgage interest rate, with each point equal to 1% of the loan amount.
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