Finance
Private Mortgage Insurance (PMI) is typically required when a conventional loan has a loan-to-value ratio above:
A70%
B75%
C80%✓ Correct
D90%
Explanation
Lenders typically require PMI when the loan-to-value (LTV) ratio exceeds 80%, meaning the buyer puts less than 20% down. PMI protects the lender in case of default.
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