Carla, it depends on what type of financing you are seeking and how much of a down payment.
FHA requires 3.5 % down and with that sales price you would be looking at approximately $305 per month for mortgage insurance.
True PMI which is Private Mortgage Insurance is what you will pay with Conventional financing and it depends on Loan to Value (LTV), loan amount, credit score, county, property type, term and amortization (fixed or ARM).
@Kawain, If your lender friend is giving those numbers then you may want to consider consulting with some more experienced loan officers because those numbers are way off to say the least. Feel free to contact me if you would like some up to date information on loan programs/rates.