Here we will estimate how much Private Mortgage Insurance (PMI) is on a $116,500 home.
Note that the lender usually only requires the borrower to have PMI if the borrower's equity in
the home is less than 20 percent of the $116,500.
Therefore, if the mortgage on a $116,500 house is $93,200 or less, then the PMI fees should be $0.00.
If the borrower doesn't have enough equity and has to pay PMI, then the PMI on a $116,500 home would
depend on the loan terms and the borrower's credit score.
We estimate that the PMI on a $116,500 home will range between $49/month and $146/month.
PMI on $116,500 home Summary:
$49/month = low estimate
$146/month = high estimate
$0/month = loan less than $93,200
|
|