pizzalover6004 pizzalover6004
  • 22-10-2018
  • History
contestada

Tania is interested in buying a $135,000 home. How big does her down payment need to be in order to avoid PMI?

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cellistsfuturistic
cellistsfuturistic cellistsfuturistic
  • 31-10-2018

To avoid Primary Mortgage Insurance (PMI) ,you need to have the loan balance be 80% or less of the home value.Therefore,Tania needs to give a down payment of at least 20% of $135000

= 20/100 * 135000 = $27000

So Tania needs to pay $27000 down payment or more in order to avoid PMI( Primary Mortgage Insurance ).

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itzelcoutino19 itzelcoutino19
  • 31-01-2020

Answer: $27,000 APEX

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