End of Chapter 19 Questions and Answers

Answer: Whenever the Loan to Value ratio, LTV, exceeds 80% the lender may require property mortgage insurance. PMI can be eliminated once the LTV drops to or below 80% and the borrower need only pay for a new appraisal to estimate the new LTV at any time in the future. 7. What are the advantages of FHA or VA financing? ................
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