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 borrowers who may not qualify for conventional loans due to lower credit scores or limited down payment funds.
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
1 answer
5 answers