Mathematics, 04.02.2021 14:00 madisonmcelvany2404
You have found a home that you are interested in purchasing. Instead of a conventional loan, you agree to pay the premium for the private mortgage insurance (PMI), which finances 95% of the loan. The amount of the home is listed at $125,000. From the given information, determine the amount needed for the down payment to qualify for the PMI loan.
a.
$6,250
c.
$625
b.
$118,750
d.
$62,500
Answers: 2
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You have found a home that you are interested in purchasing. Instead of a conventional loan, you agr...
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