Finance
A Kentucky home's purchase price is $350,000. The buyer gets a conventional loan at 90% LTV. The lender requires PMI at 0.6% annually. What is the monthly PMI cost?
A$157.50✓ Correct
B$175.00
C$210.00
D$262.50
Explanation
Loan = $350,000 × 90% = $315,000. Annual PMI = $315,000 × 0.
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