Finance
A Texas buyer qualifies for a Conventional 97 program. This means they can put down:
A3% down payment on a conventional loan✓ Correct
B5% down payment on a conforming loan
C10% down with waived PMI
D0% down for veterans only
Explanation
The Conventional 97 program (offered by Fannie Mae and Freddie Mac) allows qualifying first-time or certain homebuyers to purchase with only a 3% down payment on a conventional conforming loan, with PMI required.
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