Question

If you put a down payment on a house of less than 20% of its value, you typically have to pay _____.
(1 point)
Responses

PMI
PMI

penalty points
penalty points

mortgage fees
mortgage fees

higher interest rates

Answer 1

If you put a down payment on a house of less than 20% of its value, you typically have to pay **PMI** (Private Mortgage Insurance).