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Florida Real Estate Course
Chapter 14
Florida Real Estate Practice Question
When is a borrower required to pay Private Mortgage Insurance (PMI) on a conventional loan?
Answer choices
A
When the loan is an FHA loan.
B
When the LTV is greater than 80%.
C
When the LTV is less than 80%.
D
On all conventional loans regardless of equity.
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Mortgage Types and Qualification: A Florida Study Guide
All chapter guides
What changes with an adjustable-rate mortgage?
Why is APR often higher than the mortgage interest rate?