Here we will estimate how much Private Mortgage Insurance (PMI) is on a $720,700 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 $720,700.
Therefore, if the mortgage on a $720,700 house is $576,560 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 $720,700 home would
depend on the loan terms and the borrower's credit score.
We estimate that the PMI on a $720,700 home will range between $300/month and $901/month.
PMI on $720,700 home Summary:
$300/month = low estimate
$901/month = high estimate
$0/month = loan less than $576,560
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