A client is considering a USDA Guaranteed Rural Housing loan. Which of the following is a key eligibility requirement they must meet for this specific program?
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A
The property must be a working farm or ranch.
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B
The borrower's household income cannot exceed 115% of the area median income.
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C
A minimum down payment of 3.5% is required.
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D
The borrower must be a first-time homebuyer.