Finance
A Pennsylvania conventional mortgage with less than 20% down payment typically requires:
AFHA mortgage insurance
BPrivate mortgage insurance (PMI)✓ Correct
CA Pennsylvania Homeowners Assistance Fund guarantee
DCo-signer approval from PHFA
Explanation
Conventional loans with less than 20% down require private mortgage insurance (PMI) to protect the lender against default. PMI is provided by private insurers, not government agencies, and can be cancelled once the borrower reaches 20% equity.
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