cecelee18 cecelee18

22-05-2017
Mathematics

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Bella is interested in buying a $155,000 home. What is the minimum down payment she needs to make to avoid PMI?

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BlueSky06 BlueSky06

05-06-2017

To avoid PMI, Bella needs to pay a minimum down payment $31,000 because 20% minimum down payment made the loan LTV go below 80%.

To add, private mortgage insurance, also called PMI, is a type of mortgage insurance used with conventional loans.

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