Finance
A Wyoming borrower obtains a $280,000 conventional loan. PMI is required if the loan-to-value ratio exceeds:
A70%
B75%
C80%✓ Correct
D90%
Explanation
Private mortgage insurance (PMI) is typically required when the loan-to-value (LTV) ratio exceeds 80%, meaning the buyer puts down less than 20% of the purchase price.
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