Finance
Washington borrowers using FHA loans must pay:
ANo mortgage insurance if the LTV is below 90%
BAn upfront mortgage insurance premium and annual MIP regardless of down payment✓ Correct
CPMI only if the down payment is less than 10%
DA Washington State mortgage insurance surcharge
Explanation
FHA loans require both an upfront mortgage insurance premium (UFMIP) and annual mortgage insurance premiums (MIP) regardless of the down payment amount, protecting the lender against default.
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