Finance
In Ohio, 'mortgage insurance premium' (MIP) is associated with which loan type?
AConventional loans with 20% down
BFHA insured loans✓ Correct
CVA guaranteed loans
DUSDA Rural Development loans
Explanation
MIP (Mortgage Insurance Premium) is the insurance required on FHA loans — both upfront MIP paid at closing and annual MIP paid monthly. PMI is the equivalent for conventional loans; VA and USDA have funding fees instead.
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