PMI- Private Mortgage Insurance

Posted on July 7, 2008. Filed under: -- Insurance Help For YOU, -- Real Estate Guide For Today's Market | Tags: , , , , , |

By Molly Greaves

In a perfect world, you dont want to borrow more than 80% of your home’s value. If you do, you’ll end up picking up the cost of PMI. 

Look at how it can add up. Quickly too!

PMI for a $250,000 home with only 15% down: $57/month. Times that by 52 (amount of months you’ll need to pay it) and your total cost is $2964, according to Money Magazine in June 2007.


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