Finance
In South Dakota, when a lender requires 'private mortgage insurance,' the PMI premium:
AIs paid directly by the lender with no cost to the borrower
BIs typically paid by the borrower monthly or as an upfront premium✓ Correct
CIs shared equally between buyer and seller at closing
DIs waived for first-time homebuyers automatically
Explanation
PMI is typically paid by the borrower (the person who benefits from the lower down payment), either as a monthly premium added to the mortgage payment or as an upfront premium at closing.
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