troubleshooting Question

another Mortgage question how to calculate PMI

Avatar of NAMEWITHELD12
NAMEWITHELD12Flag for United States of America asked on
Miscellaneous
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%?
Join the community to see this answer!
Join our exclusive community to see this answer & millions of others.
Unlock 3 Answers and 4 Comments.
Join the Community
Learn from the best

Network and collaborate with thousands of CTOs, CISOs, and IT Pros rooting for you and your success.

Andrew Hancock - VMware vExpert
See if this solution works for you by signing up for a 7 day free trial.
Unlock 3 Answers and 4 Comments.
Try for 7 days

”The time we save is the biggest benefit of E-E to our team. What could take multiple guys 2 hours or more each to find is accessed in around 15 minutes on Experts Exchange.

-Mike Kapnisakis, Warner Bros