Private Mortgage Insurance is usually required if the down payment is less than ________ percent of the purchase price of the home.

Name: Private Mortgage Insurance is usually required if the down payment is less than ________ percent of the purchase price of the home.
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Private Mortgage Insurance (PMI) is typically required by lenders when the down payment on a home is less than 20 percent of the purchase price. This insurance protects the lender in case the borrower defaults on the loan.

Private Mortgage Insurance Is Usually Required If the Down Payment