# another Mortgage question how to calculate PMI

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%?
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John
Tom Cieslik

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NAMEWITHELD12

SO I have about 25 years left on the loan , the current outstanding loan amount is 295,454.45 so .8% of this is \$2363.63 ( a year ) divided by  12 months  is 196.96 , but the last payment I made for PMI is only 136.02.

I have been working on this for hours and hours , called the mortage company and they where not any help , how can this be so different ?

thanks

Date      Description      Principal      Interest      Escrow      Amount Paid      Escrow Balance      Principal Balance
12/18/2017      Principal curtailment      \$100.00      \$0.00      \$0.00      \$100.00      \$1,582.06      \$295,354.45
12/18/2017      Mortgage payment      \$613.50      \$832.69      \$547.69      \$1,993.88      \$1,582.06      \$295,454.45
12/04/2017      Mip/pmi mortgage insurance      \$0.00      \$0.00      (\$136.02)      \$136.02      \$1,034.37      \$296,067.95
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SOLUTION
John

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Miscellaneous

A miscellany is defined as a "collection of various pieces of writing by different authors", but it has come to mean something "Of items gathered or considered together of various types or from different sources" or "a collection or group composed of members or elements of different kinds". The word "miscellaneous" comes from the Latin word "miscere", meaning "to mix." You might have heard the expression "a mixed bag," which applies when you don't quite know what you're going to get. More commonly, a miscellaneous group is made up of an odd group of things that don't fit anywhere else.

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