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3 years ago

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If you were buying a home valued at $215,000, what is the minimum down payment you would need in order to avoid paying private m

ortgage insurance (pmi)? pmi is requested to protect the lender from potential default loss when there is insufficient equity in a home.

1 answer:

Rudik [331]3 years ago

3 0

$43,000

To avoid paying PMI, you need to pay a minimum 20% down payment.

.2*215,000 = 43,000

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