Loan Origination Activities · 27% of the SAFE exameasy
Correct answer: 85% LTV — yes, PMI is typically required
LTV = Loan Amount / Property Value. With 15% down: Loan = $500,000 × 85% = $425,000. LTV = $425,000 / $500,000 = 85%. PMI is typically required when LTV exceeds 80% on conventional loans.
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