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William understands conventional mortgages, he is however not sure how to do the calculation. To...

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Finance

William understands conventional mortgages, he is however not sure how to do the calculation. To date, he has saved $55,000 as a down payment on a condo which he is ready to make an offer on a property valued at $300,000. Is the following True or False? William needs an additional $5,000 for him to have a conventional mortgage.
Select one:
True
False
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