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Please answer the two following questions in depth. 1. Discuss Private Mortgage Insurance. What is it? Why do lenders require it? What is the benefit

Please answer the two following questions in depth.

1. Discuss Private Mortgage Insurance. What is it? Why do lenders require it? What is the benefit to the borrower?

2. Compare the costs and benefits of a 10% down payment versus a 20% down payment.

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