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1. Which of the following guarantees mortgages? A. FDIC B. FED C. FOMC D. Veterans Administration 2.What is the mortgage loan-to-value threshold above which private
1. Which of the following guarantees mortgages?
A. FDIC
B. FED
C. FOMC
D. Veterans Administration
2.What is the mortgage loan-to-value threshold above which private mortgage insurance (PMI) is required by the lender?
Remember, the loan-to-value ratio is calculated as: 1 - % equity ownership. Therefore, you can think of the loan-to-value ratio as the percent of the value that is financed.
A. 90%
B. 80%
C. 50%
D. 70%
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