To calculate the PMI of a house in Javascript, you first need to know the down payment amount and the loan amount. Let's say the down payment is 10%.
Then, the loan amount would be $270,000 (300,000 - (300,000 * 0.10)).
Next, you need to determine the PMI rate. This can vary, but let's assume it's 0.5% annually.
To calculate the monthly PMI amount:
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So for this example, the monthly PMI amount would be:
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Therefore, the PMI for a house of $300,000 with a 10% down payment and a 0.5% PMI rate would be $112.50 per month.
Note: Be sure to consult with a financial advisor or mortgage lender for more accurate and personalized information.
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