Ask Question
BusinessBusiness
15 May, 14:43

What percentage of the loan does PMI insure to protect the lender in case the borrower defaults on the loan?

+1
Answers (1)
  1. 15 May, 17:43
    0
    20 percent of the loan does PMI insure to protect the lender in case the borrower defaults on the loan.

    Explanation:

    PMI insurance essentially protects lendingers in the case of homeowners defaulting on their loans, as the homeowner has a shareholding of less than 20 percent.

    PMI does not always protect the buyer, but it does provide you with a way of becoming a domestic owner unless you have a minimum payment of 20 percent.

    This is a kind of conventional mortgage insurance insurers ask homebuyers to reduce their purchase price by less than 20%. You will need an insurance premium for your mortgage - the amount you earn PMI - though how you do this will vary with the creditor.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “What percentage of the loan does PMI insure to protect the lender in case the borrower defaults on the loan? ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Ethics is defined as A) formal codes that permit or forbid certain behaviors. B) a general rule of conduct of personal behavior, based on religious or philosophical grounds.
Answers (1)
Intrest deposited into your savings account is an example of what?
Answers (1)
Thelma and Louie, Inc. started the year with a balance of retained earnings of $542 million and ended the year with retained earnings of $584 million.
Answers (1)
Your current definition of capital inventory item, developed in 1978, is that "it is an item that costs more than $100, is tangible, has a useful life exceeding one year, and is not materially reduced in value immediately by use.
Answers (1)
Consider again the law that would require employers to provide the same package of nonwage benefits offered to full-time employees to part-time employees on a prorated basis.
Answers (1)
New Questions in Business
Under ASC 606, the transaction price generally should be adjusted for the effect of the time value of money when A. A royalty contract with a distribution in which the consideration to be received depends on sales to end customers. B.
Answers (1)
ALT Inc. conducts periodic reviews of the distribution of pay and the favorable outcomes granted to employees, such as promotions and increased office space.
Answers (1)
If total liabilities increased by $6,000 and the assets increased by $8,000 during the accounting period, what is the change in the owner's equity amount? A. Decrease of $2,000 B. Decrease of $2,000 C. Increase of $10,000 D. Decrease of $10,000
Answers (1)
You are invited to go to the mall with a new group of friends from school. you don't know them that well, but are excited that they included you in their plans.
Answers (1)
Suppose hypothetically that you buy a lot of food such as tofu, veggie burgers, and organic fruit that are not included in the market basket used to compute the CPI.
Answers (1)
Home » Business » What percentage of the loan does PMI insure to protect the lender in case the borrower defaults on the loan?
Sign Up Forgot Password?