Mortgage Insurance Premium Calculator

Home Price ($)

Down Payment (%)

Interest Rate (%)

Loan Term

years

Loan Type

Credit Score

Understanding Mortgage Insurance

Mortgage insurance protects the lender if you default on your loan. Conventional loans require Private Mortgage Insurance (PMI) when LTV exceeds 80%. FHA loans require a Mortgage Insurance Premium (MIP) regardless of down payment. VA and USDA loans do not require monthly mortgage insurance, though they have their own fee structures.

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