Question

The formula for calculating the down payment on an FHA loan for a property sold for $265,000 would have a down payment of $______.

Answer 1

"The down payment amount is calculated by multiplying the home purchase price times 3.5 percent, or 0.035."

http://homeguides.sfgate.com/much-down-payment-required-fha-loan-3075.html

Answer 2

Oh, okay, so it would be $265,000(0.035)=$9,275

Thanks for the link too.