PMI Calculate PMI, How to calculate PMI, Calculate Private Mortgage Insurance PMI Calculation PMI

Las Vegas real estate in Las Vegas, Nevada!

How To Calculate Private Mortgage Insurance!

PMI - How to calculate PMI (Private Mortgage Insurance) PMI - How to calculate PMI (Private Mortgage Insurance)
PMI - How to calculate PMI (Private Mortgage Insurance) PMI - How to calculate PMI (Private Mortgage Insurance)

How To Calculate Private Mortgage Insurance!

Las Vegas real estate in Las Vegas, Nevada!

"PMI" Is Issued With Conventional Loans Only

PMI Is Required With Less Than A 20% Down Payment

(All Rates Are Subject To Change)

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Base-To-Loan % Fixed Rate Loan

Loan Buydowns

Arm 2% + 1 Year Cap

30 yrs. 15 yrs.

30 yrs.

15 yrs.

30 yrs.

15 yrs.

95.01% to 97%

.90 .79

n/a

n/a

n/a

n/a

90.01% to 95%

.78 .26

.88

.77

.92

.81

85.01% to 90%

.52 .23

.61

.50

.65

.54

85% and Under

.32 .19

.33

.22

.37

.26

- A PMI Calculation Example -

After putting 5% down, you need to borrow
$100,000, and want a "Fixed Rate", 30 year loan.
What is the monthly cost for PMI?

(The Solution)

To calculate the monthly "Private Mortgage Insurance" fee ....

a.

Look in the "Base-To-Loan %" column, and locate
the percentage of the amount you need to borrow.

(In this example, it is 95%)

b.

Next, locate the column at the top describing the
type of loan you wish to get. In this case it will be a

"Fixed Rate Loan". Then choose the 30 yrs. column,
and locate where
"a" and "b" converge to see  ".78"

c. Multiply $100,000 (your loan amount ) by .78%
$100,000 x .0078 = $780
d. Divide $780 by 12 (months) = $65 per month PMI
$65 is your Monthly PMI Premium!

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- Important Notes -

These premiums are based on the "non-refundable"
monthly premium option, with NO up-front payment.
With conventional loans, the following "Closing
Costs" cannot be paid by the Seller for the Buyer:

1. Pre-paid interest
2. Hazard insurance impounds
3. Property tax impounds

Maximum base loan amount for "Conventional Loans" in Las Vegas is $240,000.
Higher base loan amounts may call for "Jumbo Loans"  (non-conforming).

- Additional "Mortgage Insurance" Pages -

Bart Austin - REALTOR« / EPIC Realty (702) 834-6111

ęCopyright Bart Austin - REALTOR«. All rights reserved.