Here we will estimate how much Private Mortgage Insurance (PMI) is on a $278,000 mortgage loan.
Private Mortgage Insurance (PMI) fees on a $278,000 mortgage are paid by the borrower and benefit the lender
if the borrower cannot meet his or her loan obligations.
The lender usually requires the borrower to have private mortgage insurance if
the loan is for more than 80 percent of the home's value.
Therefore, on a $278,000 mortgage,
the house must be valued at $347,500 or more to avoid paying PMI.
The PMI on a $278,000 would depend on the loan terms and the borrower's credit score.
We estimate that the PMI will range between $116/month $348/month.
PMI on $278,000 Mortgage Summary:
$116/month = low estimate
$348/month = high estimate
$0/month = If home value more than $347,500
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