Here we will estimate how much Private Mortgage Insurance (PMI) is on a $503,100 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 $503,100.
Therefore, if the mortgage on a $503,100 house is $402,480 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 $503,100 home would
depend on the loan terms and the borrower's credit score.
We estimate that the PMI on a $503,100 home will range between $210/month and $629/month.
PMI on $503,100 home Summary:
$210/month = low estimate
$629/month = high estimate
$0/month = loan less than $402,480
|
|