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 Posted: Fri Nov 27, 2009 4:11 am Post subject: why on a 160000.00 loan on home am i paying 258.00 pmi insur |
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| I got a mortgage loan for 160,000.00 and I am paying 258.00 pmi insurance a month... I have checked different pmi calculators and at that rate I am paying for a 300,000.00 mortgage. Why is this...my interest is 5.65. |
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dlynn28_59
New member
Joined: 27 Nov 2009
Posts: 3
1.65 Dollars($)
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| Posted: Fri Nov 27, 2009 4:58 am Post subject: |
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| If your monthly payments were about $2500, this would be correct. Have you asked your mortgage company about this? Did you question the PMI amount before signing the paper work to buy the home. When you sit down and sign your life away for the next 30 years... you really want to look over the numbers before hand. |
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tcope
Forum Expert
Joined: 22 Nov 2006
Posts: 5066
Location: Salt Lake City, UT
272.53 Dollars($)
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| Posted: Fri Nov 27, 2009 5:28 am Post subject: |
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| I guess you should go through your policy papers right now. If you have a doubt, please get it clarified with your agent/carrier before it gets too late. Did you really go through the details while buying your home? |
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steven
Senior member
Joined: 02 Feb 2006
Posts: 1553
215.65 Dollars($)
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| Posted: Fri Dec 04, 2009 5:22 am Post subject: PMI Insurance rates |
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| Ive been in my house now for a few years all the paper work changed two days before the closing that was when the pmi was brought up we couldnt go fha so they made it conventional and changed everything, by that time the home we were in was sold so there wasnt alot we could do, my house payment is 1497.00 a month but no one Ive talked anywhere is paying this much a month and I have inquired around alot. |
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dlynn28_59
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Joined: 27 Nov 2009
Posts: 3
1.65 Dollars($)
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| Posted: Fri Dec 04, 2009 5:25 am Post subject: PMI Insurance |
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| Isnt there any kind of regulations on what they can charge at all, I once talked with the PMI company that holds our insurance they were giving me information till they figured out I was an actual customer then they stopped talking to me. Ive wrote to the state insurance office but the guy did nothing to investigate he wrote a letter and that was it. It was a joke. |
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dlynn28_59
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Joined: 27 Nov 2009
Posts: 3
1.65 Dollars($)
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heidrek
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Joined: 19 Oct 2009
Posts: 236
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