Here we will estimate how much Private Mortgage Insurance (PMI) is on a $500,000 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 $500,000.
Therefore, if the mortgage on a $500,000 house is $400,000 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 $500,000 home would
depend on the loan terms and the borrower's credit score.
We estimate that the PMI on a $500,000 home will range between $208/month and $625/month.
PMI on $500,000 home Summary:
$208/month = low estimate
$625/month = high estimate
$0/month = loan less than $400,000