If you make a down payment for a home that is greater than 20 percent of the home value, you will not need to pay collateral pmi mpi closing costs

Tee answer is PMI or Private mortgage insurance

Step-by-step explanation:

If you make a down payment for a home that is greater than 20 percent of the home value, you will not need to pay - PMI

PMI or private mortgage insurance protects the lenders, if a person stops making payments on his loan.

PMI is paid by the borrowers, if they take out a mortgage from a lender and pay a down payment of 20 percent or less. This protects the lending amount of the lender in cases of default.

Therefore, if a person makes a down payment for a home that is greater than 20 percent of the home value, the PMI is nor required.

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step-by-step explanation:

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