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Updated over 6 years ago on . Most recent reply

Corey Schirmer's profile image
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Corey Schirmer
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Corey Schirmer
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Private Lending & Conventional Mortgage Advice

How to estimate PMI when using an FHA loan?

Corey Schirmer
Posted

Hi,

I am trying to run some numbers on properties and am wondering how to account for PMI. If I use an FHA loan and must pay for PMI how would I go about estimating this number? Any direction will help.

Thanks,

Corey

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Melvin List's profile image
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Melvin List
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  • from Tampa, FL
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Melvin List
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  • from Tampa, FL
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Melvin List
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  • Tampa, FL
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Melvin List
  • Lender
  • Tampa, FL
Replied

If you are putting down 3 to 5% then you multipy the loan amount by .85% and divide by 12 to get your monthly figure.

  • Melvin List
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