How much does private mortgage insurance cost?
Typically, PMI costs about one-half of one percent of the amount of the home loan. So, for example, If you want to buy a home for $500,000, and you put nothing down, then your PMI will cost $2,500 a year, or an extra $208.33 a month. Keep in mind, this is only a general rule, and may vary; usually you must put something down in order to buy a home.
