Nolan Home Loans - Mortgage Calculator

 

For your convenience, provided here is a mortgage calculator.  Please contact us for more detailed quotes and information.

 

 

Powered by Mortgage Calculator

 

NOTE:  If you anticipate your loan will require Private Mortgage Insurance (PMI), please use the following rate table to choose the rate that most closely fits your situation.  These rates should only be used as a guideline, and you should contact us for a personzlied rate quote.

 

Conventional PMI Rates


FHA MIP Rates  (as of 4-18-2011)                                                        

30-year fixed rate mortgages:

80.01% to 85% = .32 PMI Factor
85.01% to 90% = .49 PMI Factor
90.01% to 95% = .67 PMI Factor

30-year fixed rate mortgages and all 30-year term ARM loans:

Up to and including 95% LTV = 1.10%
Greater than 95.01% LTV = 1.15%


20-year and 15-year fixed rate mortgages:

80.01% to 85% = .25 PMI Factor
85.01% to 90% = .34 PMI Factor
90.01% to 95% = .57 PMI Factor 


15-year fixed rate mortgages:

Less than or equal to a 90% LTV = .25
Greater than 90% LTV = .50



Note: Borrower FICO scores and property location on conventional mortgages with PMI can increase the annual percentage factors shown above. The values listed above presume a 740 borrower middle FICO score and a subject property located in a market with a "normal" rating as opposed to a "distressed" rating by the PMI companies. For borrowers with FICO scores below 740 the maximum debt to income (DTI) ratio allowable for PMI approval is 41%. Maximum DTI ratio for 740 plus FICO borrowers with PMI is 45%. FHA does not have a similar limitation.                                                                   

 

 


Less than or equal to 90% = None

Greater than 90% LTV = .25 MIP factor