Here we will estimate how much Private Mortgage Insurance (PMI) is on a $314,400 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 $314,400.
Therefore, if the mortgage on a $314,400 house is $251,520 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 $314,400 home would
depend on the loan terms and the borrower's credit score.
We estimate that the PMI on a $314,400 home will range between $131/month and $393/month.
PMI on $314,400 home Summary:
$131/month = low estimate
$393/month = high estimate
$0/month = loan less than $251,520
|
|