down payment. 13. Private Mortgage Insurance is usually required on loans that have A) less than 10% B) more than 10% C) less than 20% D) more than 20%. 14. Down payments are intended to make the borrower less likely to default on the loan. A) True. B) False 15. Conventional mortgages are guaranteed by either the Federal Housing Administration (FHA) or the Veterans Administration (VA). A) True. B) False 16. The secondary mortgage market is the market where mortgage loans are originated. A) True. B) False