Ask Question
29 April, 22:19

Mike is applying for a home loan and wants to buy a house worth $150,000 in a neighborhood close to his work. however, he only has $15,000 toward the down payment. mike may be required by the lender to

+3
Answers (1)
  1. 29 April, 22:32
    0
    Pay PMI (private mortgage insurance) which is the amount the lender charges to protect their interests in case the borrower stops paying and defaults on the loan.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Mike is applying for a home loan and wants to buy a house worth $150,000 in a neighborhood close to his work. however, he only has $15,000 ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers