Here we will estimate how much Private Mortgage Insurance (PMI) is on a $515,800 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 $515,800.
Therefore, if the mortgage on a $515,800 house is $412,640 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 $515,800 home would
depend on the loan terms and the borrower's credit score.
We estimate that the PMI on a $515,800 home will range between $215/month and $645/month.
PMI on $515,800 home Summary:
$215/month = low estimate
$645/month = high estimate
$0/month = loan less than $412,640
|
|