Here we will estimate how much Private Mortgage Insurance (PMI) is on a $553,300 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 $553,300.
Therefore, if the mortgage on a $553,300 house is $442,640 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 $553,300 home would
depend on the loan terms and the borrower's credit score.
We estimate that the PMI on a $553,300 home will range between $231/month and $692/month.
PMI on $553,300 home Summary:
$231/month = low estimate
$692/month = high estimate
$0/month = loan less than $442,640
|
|