Which of the following loans would require MIP?
A. A conventional mortgage with an 85% initial LTV
B. An FHA mortgage after a 35% down payment
C. A USDA mortgage with an initial LTV of 82%
D. A 100% LTV VA mortgage
Answer:B
Which of the following loans would require MIP?
A. A conventional mortgage with an 85% initial LTV B. An FHA mortgage after a 35% down payment C. A USDA mortgage with an initial LTV of 82% D. A 100% LTV VA mortgage