Sandra is purchasing a house for $210,000, with a 15-year fixed-rate
mortgage at 4.5% interest. she has made a 5% down payment. the house is
valued at $198,000, and the local property tax rate is 4.5%. her homeowners
insurance is $600 per year. what are her total monthly payments? (use the
table below to calculate pmi premiums.)
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%