Jessica is buying her first new home.The home has been appraised at $330,000.For Jessica to not have to pay private mortgage insurance she must come up with a down payment of

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Private mortgage insurance (PMI) is usually required when the down payment is less than 20% of the home's appraised value. Therefore, to avoid PMI, Jessica needs to come up with a down payment of at least 20%, which would be 0.20 * $330,000 = $66,000. The closest option to this is B.

Jessica Is Buying Her First New Home