Business, 15.06.2021 16:20 shelovejaylocs

Ernest is purchasing a $175,000 home with a 30-year mortgage. He will make a $15,000 down payment. Use the table below to find his monthly PMI
payment
Base-To-Loan %
Fixed-Rate Loan
30 yrs. 15 yrs
ARM 2% + 1 Year Cap
30 yrs 15 yrs
95.01% to 97%
0.90% 0.79%
n/a
n/a
90.01% to 95%
0.78% 0.26%
0.92%
0.81%
85.01% to 90%
0.52% 0.23%
0.65%
0.54%
85% and Under
0.32% 0.19%
0.37%
0.26%
A. $1248
B. $1170
C. $97.50
D. $104.00

Answers: 3

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Ernest is purchasing a $175,000 home with a 30-year mortgage. He will make a $15,000 down payment....

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