Finance
Private mortgage insurance (PMI) is typically required in West Virginia when:
AThe loan-to-value ratio exceeds 80%✓ Correct
BThe borrower's credit score is above 750
CThe property is a second home
DThe loan term exceeds 20 years
Explanation
PMI is required when the LTV ratio exceeds 80% (i.e., the down payment is less than 20%). PMI protects the lender in case of borrower default.
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