*
PMI Calculations:
Loans
with 3% down: Loan amount X 0.0097 divided by 12
(months)=PMI(month)
Loans
with 5% down: Loan amount X 0.0078 divided by 12
(months)=PMI(month)
Loans
with 10% down: Loan amount X 0.0053 divided by 12 (months)=PMI(month)
Loans
with 15% down: Loan amount X 0.0032 divided by 12 (months)=PMI(month)
**
MIP Calculations:
1.5%
upfront of mortgage amount, can be included in mortgage.
1/2%
per month
Example:
180,000 loan x 0.015 = $2,700 + 180,000 loan x 0.005/12 = $75 per
month until 78% LTV.
All
costs are estimated and may vary. Those items affecting costs may
be depending on loan amount, purchase price or independent service
provider, i.e.; inspection companies, mortgage companies, attorney
offices, etc. Costs in your State/County/Town/Area may vary as
well. The Actual costs should be reflected in the RESPA statement
at time of closing. Items marked "N/A" are typically not
paid by that party, but may, depending on circumstances of
contract or what is typical for your area. Actual calculations for
pre qualification, costs and fees should be obtained by a
professional mortgage representative. Information on this page is
considered reliable however not guaranteed.
