The reason is that what contractors might charge to remove the current flooring, especially in cases of tile and hardwood, can vary wildly. Installation costs can vary just as much, so we would recommend contacting 2-3 contractors and asking how much they charge per square foot for removal and installation of flooring.
Multiply the amount of your loan times the total number of points as a percentage. Using figures from the above steps, the three points bought with a $400,000 mortgage would cost $12,000: $400,000 x 0.03 = $12,000.
The cost of PMI varies based on your loan-to-value ratio â the amount you owe on your mortgage compared to its value â and credit score, but you can expect to pay between $30 and $70 per month for every $100,000 borrowed.