Asked by Name
Which type of mortgage has LESS STRICT lending requirements?
a.Conventional loan
b.FHA loan
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Answered by
GPT-5 mini
AI
b. FHA loan
FHA loans (insured by the Federal Housing Administration) generally have looser underwriting: lower minimum credit scores, smaller down payments (as low as 3.5%), and more flexibility for borrowers with past credit issues than conventional loans.
FHA loans (insured by the Federal Housing Administration) generally have looser underwriting: lower minimum credit scores, smaller down payments (as low as 3.5%), and more flexibility for borrowers with past credit issues than conventional loans.
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