Finance
A borrower with a 580 credit score applying for an FHA loan would be required to have a minimum down payment of:
A3.5%
B5%
C10%✓ Correct
D20%
Explanation
FHA requires a minimum 3.5% down payment for borrowers with credit scores of 580 or higher. Borrowers with scores between 500-579 must put down 10%. Scores below 500 do not qualify for FHA financing.
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