Here we will estimate how much Private Mortgage Insurance (PMI) is on a $246,400 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 $246,400.
Therefore, if the mortgage on a $246,400 house is $197,120 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 $246,400 home would
depend on the loan terms and the borrower's credit score.
We estimate that the PMI on a $246,400 home will range between $103/month and $308/month.
PMI on $246,400 home Summary:
$103/month = low estimate
$308/month = high estimate
$0/month = loan less than $197,120
|
|