If a Borrower Makes a 20% Down Payment on a Conventional

question 1

Multiple Choice

If a borrower makes a 20% down payment on a conventional mortgage they will be required to obtain

• A) FHA insurance
• B) VA insurance
• C) private mortgage insurance
• D) GNMA payment guarantees
• E) none of the above

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Definitions:

Scratch Test

An allergy test in which extracts of suspected allergens are applied to the patient’s skin and the skin is then scratched to allow the extracts to penetrate.

Suspected Allergens

Substances believed to cause allergic reactions.

Lancet

A small, sharp medical instrument used for making incisions, especially for taking blood samples.

Radioallergosorbent Test

A blood test used to detect specific IgE antibodies to determine the substances a person is allergic to.