Here we will estimate how much Private Mortgage Insurance (PMI) is on a $57,700 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 $57,700.
Therefore, if the mortgage on a $57,700 house is $46,160 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 $57,700 home would
depend on the loan terms and the borrower's credit score.
We estimate that the PMI on a $57,700 home will range between $24/month and $72/month.
PMI on $57,700 home Summary:
$24/month = low estimate
$72/month = high estimate
$0/month = loan less than $46,160
|
|