$352,696 lender stand to lose in the absence of pmi. A borrower may be required to PMI as a condition of obtaining a conventional mortgage loan.
<h3>What is Private Mortgage Insurance (PMI) ?</h3>
Private mortgage insurance (PMI) is a type of insurance that a borrower might be required to buy as a condition of a conventional mortgage loan. When a buyer puts down less than 20% of the home's price, the majority of lenders demand PMI.
In contrast to most insurance types, this one safeguards the lender's investment in the house, not the policyholder. However, PMI enables some people to purchase a home more quickly. PMI makes it possible for people to get financing if they decide to put down between 5% and 19.99% of the home's cost.
It does, however, incur additional monthly expenses. Until they have built up enough equity in the property that the lender no longer views them as high-risk, borrowers must continue to pay their PMI.
Formula for calculating PMI :Divide the loan amount by the property value. Then multiply by 100 to get the percentage. If the result is 80% or lower, your PMI is 0%, which means you don't have to pay PMI.
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Answer:
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Explanation:
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Answer:
True
Explanation:
The given statement asserts a true claim that 'having a sole proprietor in a business mars the growth and expansion of the business' and the primary reason behind this is that his/her ability to upraise funds for further expansion is limited but the liability is unlimited. It restricts the person to enhance the business. Secondly,<u> it is extremely difficult for a single individual to manage employees, day-to-day responsibilities, paying debts, etc. and this is why the life of most of such businesses are very short except for a few</u>. Thus, the assertion is true.
Factors that would lead prisoners to attribute guard
brutality to the guard’s disposition or character rather than the situation are
the following;
<span>·
</span>Cruelty shown by the guard – this allows the
prisoners to engage violently towards them and lead them to act more brutally
towards them
<span>·
</span>Demanded characteristic that the guard should or
the role of their job – if the guards are not doing their job, the prisoners
are likely to look lowly at them and does not provide any respect to the guards
that could engage to brutality
Answer:
The range will be "-2.0% to 14.8%". A further explanation is given below.
Explanation:
According to the question,
For 68%, the range seems to be +/- 1 standard deviation of the mean. So that the upper as well as the lower range will be:
Upper range,
=
= (%)
Lower range,
=
= (%)
So that the range would be between "-2.0% to 14.8%".