Here we will estimate how much Private Mortgage Insurance (PMI) is on a $707,000 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 $707,000.
Therefore, if the mortgage on a $707,000 house is $565,600 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 $707,000 home would
depend on the loan terms and the borrower's credit score.
We estimate that the PMI on a $707,000 home will range between $295/month and $884/month.
PMI on $707,000 home Summary:
$295/month = low estimate
$884/month = high estimate
$0/month = loan less than $565,600
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