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Mortgage Insurance Premiums

The Insurance Premium is paid once, at the time of closing, and may be added onto the mortgage or paid separately.  The premium rate varies from 0.60% to 3.60% of the mortgage amount depending on the size of your down payment.  To calculate the premium, multiply the mortgage amount by the premium rate.

Premium Rates:

 

Loan to Value Ratio

 

Premium on Total Loan

Up to 65.00%

 

0.60%

65.01 - 75.00%

 

0.75%

75.01 - 80.00%

 

1.25%

80.01 - 85.00%

 

1.80%

85.01 - 90.00%

 

2.40%

90.01 - 95.00%

 

3.60%

 

 

 


Amortization Options
:

  • Maximum insured amortization is 25 years

 

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