How much do you pay for the house in total in the above example? Assume you will only be paying PMI for the first 2 years of the mortgage?

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SuMi asked Sep 1, 2023

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How much do you pay for the house in total in the above example? Assume you will only be paying PMI for the first 2 years of the mortgage?

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SuMi asked Sep 1, 2023

by SuMi

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Answer:

start with your current mortgage balance. For a new mortgage, subtract your down payment from the home price. Calculate the LTV. Divide the loan amount by the property value.

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John Rivers answered Sep 5, 2023

by John Rivers

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