A borrower is interested in a USDA Rural Development Single-Family Housing Guaranteed Loan. Which of the following is a key eligibility requirement for this specific program?
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A
The borrower must be a first-time homebuyer.
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B
The property must be a working farm or generate income.
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C
The borrower's household income must not exceed 115% of the area median income.
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D
The borrower must make a minimum 3.5% down payment.