This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Real Estate Exam.

In this episode you will learn:

• FHA loans are government-insured, not government-guaranteed or directly funded.

• The minimum down payment is 3.5% for credit scores 580 and above.

• Borrowers must pay both Upfront Mortgage Insurance Premium (UFMIP) and monthly MIP.

• Debt-to-income qualifying ratios are typically 31% for housing and 43% for total debt.

• The FHA escape clause protects a buyer's earnest money if the property fails to appraise for the agreed-upon sales price.

For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep