Finance
A Vermont FHA loan differs from a conventional loan in that it:
ARequires a 20% down payment
BIs insured by the federal government and allows lower down payments and more flexible qualification✓ Correct
CIs only available for new construction
DHas no mortgage insurance requirement
Explanation
FHA loans are insured by the Federal Housing Administration, allowing lower down payments (as low as 3.5%) and more flexible credit requirements. They require both upfront and annual mortgage insurance premiums.
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