Here we will estimate how much Private Mortgage Insurance (PMI) is on a $597,100 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 $597,100.
Therefore, if the mortgage on a $597,100 house is $477,680 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 $597,100 home would
depend on the loan terms and the borrower's credit score.
We estimate that the PMI on a $597,100 home will range between $249/month and $746/month.
PMI on $597,100 home Summary:
$249/month = low estimate
$746/month = high estimate
$0/month = loan less than $477,680
|
|