Here we will estimate how much Private Mortgage Insurance (PMI) is on a $347,500 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 $347,500.
Therefore, if the mortgage on a $347,500 house is $278,000 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 $347,500 home would
depend on the loan terms and the borrower's credit score.
We estimate that the PMI on a $347,500 home will range between $145/month and $434/month.
PMI on $347,500 home Summary:
$145/month = low estimate
$434/month = high estimate
$0/month = loan less than $278,000
|
|