How much do you want to put down on the mortgage loan?
Required (Do Not Enter in Commas)
Min: 0
Max: 89
Decimals: 1
Important tip: Most lenders do not require private mortgage insurance (PMI) when you make a down payment of 20% or more. In lender's terms, this means a loan/value (LTV) ratio of 80% or less. For example, if your down payment is 10%, the LTV ratio is 90% (you are borrowing 90% of the Purchase Price). You pay private mortgage insurance (PMI) when the LTV ratio is in excess of 80%. Confused?
The Bottom Line: The private mortgage insurance (PMI) percent is calculated for you automatically. "Dynamic" text displayed to the right of the private mortgage insurance input box displays the percent you should enter into the private mortgage insurance input box manually. Yes, it is that easy. Oh, please pay attention if the down payment is 20.0% or higher - private mortgage insurance (PMI) goes to zero (.00). Click on private mortgage insurance. for details on private mortgage insurance (PMI).
Example
If you want to put 20.0% down, enter: 20.0
CLOSE mortgage calculator help window.
CloseWindow