Posted by Ed Eaton on March 18, 2001 at 16:17:21:
PMI depends on the lender … it’s usually between 0.5 and 1% of the loan.
ANYONE KNOW ABOUT PMI - Posted by RJ
Posted by RJ on March 18, 2001 at 14:07:22:
I know that a borrower pays PMI on a mortgage until the equity they have in their home reaches at least 20%. I was wondering if anyone could share with me what formulas are used to calculate what the monthly PMI payment will be?
As always, any help would be appreciated.
RJ-PA
Re: ANYONE KNOW ABOUT PMI - Posted by Eric C
Posted by Eric C on March 19, 2001 at 11:20:49:
Hi -
Most of the mortgage insurance companies as well as the larger mortgage brokerage firms have web sites with PMI calculators on-line.
Try a web search.
Yours,
Eric C
Re: ANYONE KNOW ABOUT PMI - Posted by Angela_Calif
Posted by Angela_Calif on March 19, 2001 at 01:14:49:
take loan amount and multiply by percentage then divide by 12 months, LTV has to be over 80% for the lender to make client pay PMI. i.e. 100,000 loan multiply by .52% then divide my 12 months = 43.33 per month the client would have to pay PMI… hope this helps 