Respuesta :
Answer:
C. Find a lender who is willing to do FHA-loans.
Explanation:
The Federal Housing Administration loan program was instituted by the United States government to make owning homes by the citizens easier. To be qualified, an applicant's minimum credit score should be 500 with a downpayment of 3.5% with a credit score of 580 and 10% for a credit score which is between 500 to 579. He must be willing to do, mortgage insurance, and the house which he wishes to own must meet the FHA's requirements.
However, it does not depend on him to find a lender willing to do FHA loans, rather, the lender must be approved by the Federal Housing Administration. He can only obtain his loan from an FHA-approved lending financial institution.
The Federal Housing Administration loan program was established by the US government to make homeownership more accessible to individuals.
To be considered, an applicant's credit score must be at least 500, with a downpayment of 3.5 percent for a credit score of 580 and 10% for a credit score of 500 to 579.
He must be ready to pay for mortgage insurance, and the home he seeks to purchase must fulfill FHA guidelines.
However, finding a lender ready to offer FHA loans is not his responsibility; rather, the lender must be approved by the Federal Housing Administration. Only an FHA-approved lending financial institution can provide him with a loan.
So, Option C is correct.
The other Options are incorrect as
- Option A is incorrect as finding a home for an FHA loan is the most important thing so this is not the correct option.
- Option B is incorrect as visiting an FHA office and ordering an appraisal on the home is also one of the important steps for an FHA loan.
- Option D is incorrect as paying mortgage insurance lowers the risk to the lender making a loan to you.
Thus Option C is correct as this is the only option that is not necessary for an FHA loan.
For more information about FHA loans refer to the link:
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