About the Mortgage Insurance

[hotswapping]

If you can't pay the 25% down payment, then you have to buy the mortgage insurance. How does the bank calculate teh Insurance?

 

[胡说之]

It's a percentage of the principle, non-negotiable.

 

[hotswapping]

how much percent? Can you give an example? Like $200,000, pay down payment 20%, how much insurance will buy? Thanx

 

[land]

5% - 3.75%
10% - 2.5%
20% - 1.25%

 

[hotswapping]

thanx Land and VIP