Selecting a Mortgage
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How much PMI adds to your
monthly payment depends on what your LTV (Loan to Value ratio) is.
PMI can be calculated based on the table below.
| Amount
Financed |
Fixed
Rate Loan |
Loan
Buy Downs |
ARM
2% + 1 Year Cap |
| 15
Yr |
30
Yr |
15
Yr |
30
Yr |
15
Yr |
30
Yr |
| 95.01%
- 97% |
0.79% |
0.90% |
n/a |
n/a |
| 90.01%
- 95% |
0.56% |
0.78% |
0.77% |
0.88% |
0.81% |
0.92% |
| 85.01%
- 90% |
0.23% |
0.52% |
0.50% |
0.61% |
0.54% |
0.65% |
| 80.01%
- 85% |
0.19% |
0.32% |
0.22% |
0.33% |
0.26% |
0.37% |
| 80%
and less |
n/a |
n/a |
n/a |
Mortgage loan amount x pmi%
in table based on LTV then divided by 12. Ex: 95% LTV $250,000 30
year fixed loan =
250,000x0.0078=1950/12=$162.50 PMI amount added to loan payment
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Want to apply for a mortgage? Contact me and I can have a mortgage
loan professional contact you.
Email
me
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Date updated: 10/13/2009
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