Kiến thức vay thế chấp chungCâu 108 / 400
On a $350,000 conventional purchase, how much down payment is required to avoid private mortgage insurance (PMI)?
a.$12,250
b.$35,000
c.$17,500
d.$70,000
Giải thích
PMI is generally required when LTV exceeds 80%, so a 20% down payment avoids it: 20% x $350,000 = $70,000. $35,000 is 10%, $17,500 is 5%, and $12,250 is 3.5% — all leave LTV above 80%.
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