Which Government Program Requires the Least Down Payment for the Purchase

question 17

Multiple Choice

Which government program requires the least down payment for the purchase of an owner-occupied $400,000 condo?

• A) FHA 203b program
• B) FHA 245 program
• C) VA
• D) regular CAL-VET Loan

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Definitions:

Disclaim or Modify

To reject, deny responsibility, or change terms and conditions in an agreement or statement.

Transferring Rights

The act of moving or assigning legal rights or interests from one party to another.

Merchantable

A standard in sales law indicating that goods are fit for the ordinary purposes for which such goods are used.

Average, Fair

An assessment or rating that denotes something as being within an acceptable or middle range of quality or value.