How to Calculate Mortgage Insurance (PMI)
Private mortgage insurance (PMI) is insurance that protects a lender in the event that a borrower defaults on a conventional home loan. Mortgage insurance is usually required when the down payment on a home is less than 20 percent of the loan amount. Monthly mortgage insurance payments are usually added into the buyer’s monthly payments.
Method One of Two:
Calculating Mortgage Insurance Edit
Method Two of Two:
Navigating Other Factors Edit