Russell is purchasing a $175,000 home with a 30-year mortgage. He will put down $15,000 down payment. Use the table below to find his monthly PMI
payment
Base-To-Loan %
Fixed-Rate Loan
30 yrs. 15 yrs.
ARM 2% + 1 Year Cap
30 yrs.
15 yrs.
95.01% to 97%
0.90% 0.79%
n/a
n/a
90.01% to 95%
0.78% 0.26%
0.92%
0.81%
85.01% to 90%
0.52% 0.23%
0.65% 0.54%
85% and Under
0.32% 0.19%
0.37% 0.26%
O A. $97.50
B. $1170
O c. $1248
O D. $104.00