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Bella is interested in buying a $150,000 home. How big does her down
payment need to be in order to avoid PMI?
O
A. $20,000
O B. $30,000
O C. $25,000
O D. $120,000
SUBMIT
It’s B I think

Respuesta :

Answer:

The answer is option B : $30,000.

Step-by-step explanation:

To avoid Primary Mortgage Insurance or PMI, one need to have the loan balance to be 80% or less of the home value.

Hence, Bella needs to deposit a down payment of at least 20% of $150,000

This value becomes:

[tex]0.20\times150000=30000[/tex] dollars

Therefore, the answer is option B : $30,000.

Answer:

B $30,000

Step-by-step explanation:

PMI then with the given amount is how we find the answer

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