Which of the following is true?

Question

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Conventional mortgages typically require a down payment of at least twenty percent. This is to avoid the need for private mortgage insurance (PMI), which is required for down payments of less than twenty percent. Option A is incorrect because a down payment of twenty-five percent would be considered a larger down payment than the typical requirement for a conventional mortgage. Option C is incorrect because land transfer tax varies by province and can be a significant expense depending on the location. Option D is incorrect because appraisal fees can vary widely depending on the location and type of property, but generally range from a few hundred to a few thousand dollars.

Which of the Following Is True