Tag Archives: pmi

Calculating the difference In Cost Between PMI and 80-10-10

In order to calculate the benefit of using 80-10-10 financing as opposed to making only 10% down payment and taking a private mortgage insurance, let us take this example of a $200,000 home loan on which you make a 10% down payment. Cost with private mortgage insurance When you make only 10% down payment on […]

What Is The Cost Of Private Mortgage Insurance

The amount that the private mortgage insurance costs you depends on several factors: Type of loan ARMs will generally have a higher private mortgage insurance premium than FRM’s. Loan amount PMI premium is partially based on the percentage of the loan amount as well. This means that the more you borrow the greater will be […]

Private Mortgage Insurance, PMI

Pvt. mortgage insurance or PMI is the insurance that you usually have to pay to the mortgage lender if you are making a down payment of less than 20%. Pvt. mortgage insurance protects the lender against default by the borrower and covers his losses for the entire foreclosure proceedings . Lenders mostly suffer loss when […]