Here we will estimate how much Private Mortgage Insurance (PMI) is on a $304,000 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 $304,000.
Therefore, if the mortgage on a $304,000 house is $243,200 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 $304,000 home would
depend on the loan terms and the borrower's credit score.
We estimate that the PMI on a $304,000 home will range between $127/month and $380/month.
PMI on $304,000 home Summary:
$127/month = low estimate
$380/month = high estimate
$0/month = loan less than $243,200
|
|