A Mortgage for Less Than 80% of the Appraised Value

question 134

True/False

A mortgage for less than 80% of the appraised value of the home will not require PMI insurance because they default less often.

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Definitions:

External Entity

An organization, body, or individual that exists outside of the framework or control of the main organization or system being referred to.

Evil Eye

A belief found in many cultures that a person can cause harm, illness, or misfortune to others simply by looking at them with envy or malice.

Somatic Symptoms

Physical symptoms that can occur with or without any identifiable physical cause and are often associated with psychological conditions.

Collectivism

A cultural value that emphasizes the importance of groups and communities over individual interests.