General Mortgage KnowledgeQuestion 134 of 400
On a $250,000 FHA purchase, what is the minimum required down payment?
a.$12,500
b.$8,750
c.$25,000
d.$7,500
Explanation
FHA's minimum down payment is 3.5%: 0.035 x $250,000 = $8,750. $12,500 is 5%, $25,000 is 10%, and $7,500 is 3%.
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