Example the pmi insurance cost

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Reference no: EM13971316

Vivian wants to buy a house. The house she wants is listed for $300,000, and she wants to avoid PMI insurance. She can get a fixed rate mortgage at 4.25% for 30 years.

1. What if Vivian can only pay a 10% down payment, what would her monthly payment be for the 30 year mortgage at 4.25%? (For this example the PMI insurance cost is 1% of the loan amount per year.)

Reference no: EM13971316

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Example the pmi insurance cost : What if Vivian can only pay a 10% down payment, what would her monthly payment be for the 30 year mortgage at 4.25%? (For this example the PMI insurance cost is 1% of the loan amount per year.)

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