OUR CALCULATORS ARE A GREAT RESOURCE!
If you are thinking about purchasing a new home or refinancing an existing mortgage, our interactive calculators are the perfect way to explore your mortgage options. If you have any questions using our calculators, you can always call Berkshire directly at
877-822-7441.

What Better: take a Second Loan or Pay PMI?

Input Information
Property Information
Home Value : ($)
Additional Information
Annual PMI :
Down Payment :
  Standard 80% Loan Second Loan
Interest Rate : (%) (%) (%)
Length : Yrs Yrs Yrs
Points : (%) (%) (%)
Closing Cost : ($) ($) ($)

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.
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