Finance
A Wyoming FHA loan requires a minimum down payment of:
A0%
B3%
C3.5%✓ Correct
D5%
Explanation
FHA loans require a minimum down payment of 3.5% for borrowers with a credit score of 580 or higher. FHA loans are popular in Wyoming because they have more flexible qualification requirements than conventional loans.
Related Wyoming Finance Questions
- A Wyoming homeowner who has been making mortgage payments for 10 years on a 30-year loan applies for a home equity line of credit (HELOC). The available equity is determined by:
- The Homeowners Protection Act (PMI Cancellation Act) requires lenders to:
- A Wyoming lender uses a 'due on sale' clause. This clause means:
- A Wyoming property owner receives a demand from their lender that the mortgage be paid in full under a 'due-on-encumbrance' clause. This occurred because the owner:
- A Wyoming lender 'redlines' a neighborhood by refusing to make loans there regardless of individual creditworthiness. This practice:
- The Equal Credit Opportunity Act (ECOA) prohibits Wyoming lenders from discriminating in credit decisions based on:
- Wyoming has no state income tax. How does this affect the federal mortgage interest deduction for Wyoming homeowners?
- Wyoming does not have a state income tax. A primary financial advantage for real estate investors is:
Practice More Wyoming Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Wyoming Quiz →