Are You PMI-Savvy?
3 Questions
1 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What does the Homeowner's Protection Act apply to?

  • Homeowners insurance
  • Flood insurance
  • Private mortgage insurance (correct)
  • Title insurance

    • When can a borrower request that PMI be dropped from their loan?

  • Once they have obtained 10 percent equity in their property
  • Once they have obtained 40 percent equity in their property
  • Once they have obtained 20 percent equity in their property (correct)
  • Once they have obtained 30 percent equity in their property

    • When is PMI dropped from the borrower's loan without a request from the borrower?

  • When the borrower has obtained 20 percent equity in their property or at 80 percent LTV
  • When the borrower has obtained 22 percent equity in their property or at 78 percent LTV (correct)
  • When the borrower has obtained 25 percent equity in their property or at 75 percent LTV
  • When the borrower has obtained 30 percent equity in their property or at 70 percent LTV

    • More Like This

    Are You a Security Pro?
    9 questions

    Are You a Security Pro?

    Quizgecko avatar
    Quizgecko
    Are You a Sukkah-Building Pro?
    10 questions

    Are You a Sukkah-Building Pro?

    Rabbi Karp avatar
    Rabbi Karp
    Are You a Turtle? Flashcards
    23 questions

    Are You a Turtle? Flashcards

    CleanHolly avatar
    CleanHolly
    Are You Smarter Than a Fourth Grader? Flashcards
    20 questions

    Are You Smarter Than a Fourth Grader? Flashcards

    ReputableTangent4657 avatar
    ReputableTangent4657
    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser