Here we will estimate how much Private Mortgage Insurance (PMI) is on a $500,400 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 $500,400.
Therefore, if the mortgage on a $500,400 house is $400,320 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 $500,400 home would
depend on the loan terms and the borrower's credit score.
We estimate that the PMI on a $500,400 home will range between $209/month and $626/month.
PMI on $500,400 home Summary:
$209/month = low estimate
$626/month = high estimate
$0/month = loan less than $400,320
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