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If a homebuyer using a conventional mortgage fails to put down at least 20 percent as...

If a homebuyer using a conventional mortgage fails to put down at least 20 percent as a down payment, the borrower must purchase mortgage insurance? TRUE OR FALSE

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The given statement is TRUE as it is mandatory for a home buyer who is using a conventional mortgage and if he fails to put down atleast 20% as a down payment, the borrower must purchase mortgage insurance,and he is completely obligated for purchasing mortgage Insurance.when the home buyer will be using the conventional mortgage and he is not able to put down with the 20% of the payment, he will have to compensate with it by purchasing a mortgage insurance

The given statement is TRUE.

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