What Better: take a Second Loan or Pay PMI?
Input Information
Property Information
Home Value :
($)
Additional Information
Annual PMI :
($)
(%)
Down Payment :
5 %
10 %
15 %
Standard
80% Loan
Second Loan
Interest Rate :
(%)
(%)
(%)
Length :
Yrs
Yrs
Yrs
Points :
(%)
(%)
(%)
Closing Cost :
($)
($)
($)
Show Schedule Table
Financial Analysis
Standard
80% Loan
Second
Points Value :
$2t700.00
$3t600.00
$300.00
Closing Cost :
$1t200.00
$700.00
$1t000.00
Total Closing Cost :
$3t900.00
$5t600.00
Down Payment :
$30t000.00
Upfront Cost :
$33t900.00
$35t600.00
Amount Financed :
$267t300.00
$236t400.00
$29t700.00
Monthly PI :
$1t394.36
$1t149.15
$250.63
Months With PMI :
70
0
0
Monthly PMI :
$112.50
$0.00
$0.00
Monthly Payment :
$1t506.86
$1t399.77
Total Interest Paid :
$234t670.80
$192t705.96
Total PMI :
$7t875.00
$0.00
$0.00
Total Payments :
$509t840.30
$458t800.75
DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or it's applicability to your financial situation. Please consult your own financial advisor.
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