Here is anexcellent private mortgage insurance calculatorthat will estimate what you can expect to pay in PMI. Doing the PMI calculation is essential to know what you will be paying. If you need help calculating PMI, ask your loan officer for assistance. They should offer to help calculate PM...
One way to avoid paying PMI is tomake a down payment that is equal to at least one-fifth of the purchase price of the home; in mortgage-speak, the mortgage's loan-to-value (LTV) ratio is 80%. If your new home costs $180,000, for example, you would need to put down at least ...