2007-03-18 11:02:39 · 2 answers · asked by misspriss 1 in Business & Finance ➔ Renting & Real Estate
The PMI coverage depends on your loa to value ratio. 100% financing requires more PMI coverage than 85% financing. PMI rates also vary by vendor.
2007-03-18 12:17:23 · answer #1 · answered by SndChaser 5 · 0⤊ 0⤋
How knows---You haven't given enough information.
Is the $98,000 more than 80% of the purchase price? If it is 80% or less you shouldn't have to pay any PMI at all. If you are looking for a total payment you need to know the APR, years of the mortgage, along with the Taxes and iNSURANCE COSTS. Without that information no one can calculate a total cost. You are required to get a "Truth in Lending" statement from your lender. All of that information will be on that.
2007-03-18 11:10:54 · answer #2 · answered by ttpawpaw 7 · 0⤊ 0⤋