FinancingCâu 68 / 120
An FHA loan is best described as a loan that is:
a.Insured by the Federal Housing Administration and made by approved lenders
b.Made directly by the federal government
c.Guaranteed only for veterans
d.Exempt from all mortgage insurance
Giải thích
FHA loans are originated by approved private lenders and insured by the Federal Housing Administration, which protects the lender against loss. They allow low down payments but require mortgage insurance premiums. The FHA insures rather than directly makes the loans.
Luyện miễn phí toàn bộ 120 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- In a California deed of trust, the party who holds bare legal title as security until the loan is repaid is the:
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