Here we will estimate how much Private Mortgage Insurance (PMI) is on a $623,600 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 $623,600.
Therefore, if the mortgage on a $623,600 house is $498,880 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 $623,600 home would
depend on the loan terms and the borrower's credit score.
We estimate that the PMI on a $623,600 home will range between $260/month and $780/month.
PMI on $623,600 home Summary:
$260/month = low estimate
$780/month = high estimate
$0/month = loan less than $498,880
|
|