You are a newlywed,and you and your spouse have just found your dream home.Problem is,you do not have 20% for a down payment on the house.You will probably need to obtain
A)EAR.
B)PMI.
C)PTI.
D)APR.
E)none of the above.

Question

Quizplus · Accepted Answer

Since the couple does not have 20% down payment, they may need to obtain PMI or private mortgage insurance. This insurance is generally required by lenders when the down payment is less than 20%. It protects the lender in case the borrower defaults on the loan.

You Are a Newlywed,and You and Your Spouse Have Just