Exam (elaborations)
MICHIGAN REAL ESTATE EXAM QUESTIONS AND ANSWERS 2024|GUARANTEED SUCCESS
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Conventional Mortgages neither insured nor guaranteed. Typically requires 20%-25% down payment. Conventional with PMI (Private mortgage insurance) A conventional loan with insurance on it- up to 20%. The law passes in 1998 made it mandatory for the lenders to drop the PMI when the loan bal...
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