$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:
Explanation:
Calculation of total loss:
Net loss 320,000
Preferred dividend [5000*8%*100] 40,000
Total loss 360,000
Calculation of shares:
Common shares 250,000
Additional common stock [36,000*7/12] 21,000
Total shares 271,000
Loss per share = 360,000/271,000 = $1.328
Answer:
b. Married filling jointly
Explanation:
From the question we are informed about taxpayer's spouse who dies in August of the current year. In this case,
the taxpayer's filing status for the current year would be Married filling jointly. Joint return can be regarded as tax return which is been filed with the Internal Revenue Service by two married taxpayers that decide to have a filing status of "married filing jointly" or a widowed taxpayer that decide to have a filing status of " Qualifying Widow "A joint return give room for the
taxpayers to join their tax liability as well as report their income, credits and
deductions on the same joint return.
The joint return rates still validly
apply even two year after the death of a particular spouse, so far the
surviving spouse of the dead spouse does not remarry and still maintains a household as regards a dependent child.
The Davis family grows organic vegetables to sell at a local farmer’s market. Which are factors that directly affect their profit?
Answer: Since there are no options to select from I will mention the most important key factors that should be taken into consideration when you are growing organic vegetables. The field site selection is one. Field topography and finally management of soil in selection and quantity.
I hope it helps, Regards.
