Most creditors will require borrowers to purchase mortgage insurance if the borrower's down payment,in relation to the purchase price,is less than

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Most creditors require borrowers to purchase mortgage insurance if their down payment is less than 20 percent of the purchase price. This is because a down payment of less than 20 percent is considered a high-risk loan by lenders, and mortgage insurance protects lenders in case the borrower defaults on the loan.

Most Creditors Will Require Borrowers to Purchase Mortgage Insurance If