troubleshooting Question

another Mortgage question how to calculate PMI

NAMEWITHELD12Flag for United States of America asked on
4 Comments3 Solutions120 ViewsLast Modified:
I am struggling to figure out how much as a rate I am paying for PMI, I just can't seem to get the numbers to work out, there is something I am not doing right, this is not my strong point at all.

ok SO what I am looking at is the appraised value of $360,824 ( on July 26, 2013)  I looked up on the FHA website and it seems as if the rate is .8% so If I take the $360,824 and find out what .8% of that is $2886 ( for a year ) and divide that by 12 I get $240.50 a month but I am paying less than that at $136.02 a month for PMI

can you tell me if the rate is really 0.8%?
Tom Cieslik
IT Superintendent
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