1. Homebuyers who don't make a down payment of at least 20% may be required to take out PMI (Private Mortgage Insurance). On a $200,000 loan, the premiums can cost more than $100 per month. What would be the minimum down payment on a $200,000 loan?

Question

1.	Homebuyers who don't make a down payment of at least 20% may be required to take out PMI (Private Mortgage Insurance). On a $200,000 loan, the premiums can cost more than $100 per month. What would be the minimum down payment on a $200,000 loan?

Someoneee · Answer

is this on a test?

jboggsbu12 · Answer

no

Someoneee · Answer

I'm actually confused by this question too.

Someoneee · Answer

@Tranquility do you have any home payment experience? I have no idea how this works.