![]() Your total loan amount: As a general rule, PMI expenses are higher for larger mortgages.How much you pay depends on two main factors: On average, PMI costs range between 0.22% to 2.25% of your mortgage. In this case, your lender arranges for you to pay a portion of your PMI at closing and adds the rest to your monthly mortgage payments. Monthly and upfront premiums: Alternatively, your PMI might come in a combination of the two methods above.While it's an additional closing cost, your monthly mortgage payment will be lower. In this case, your lender arranges for you to pay PMI when you close on the loan. ![]()
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