The type of mortgage loan that helps individuals who may have a low credit score, little cash available for a down payment, and could be first-time home buyers is a Government-insured loan. These loans, such as FHA loans, are designed to assist those with lower credit scores and down payment requirements.
Which of the following types of mortgage loan helps individuals who may have a low credit score, little cash available for a down payment, and could be a first-time home buyer?(1 point)
Responses
Adjustable-rate loan
Adjustable-rate loan
Fixed-rate loan
Fixed-rate loan
Government-insured loan
Government-insured loan
Jumbo loan
Jumbo loan
1 answer