Calculating Private Mortgage Insurance(PMI)
Private Mortgage Insurance is required on conventional loans with a down payment of less than 20%. The Private Mortgage Insurance premium can be calculated using the following table. (NOTE: All rates are subject to change without notice)
| Amount Financed | Fixed Rate Loan | |
| 15 Yr | 30 Yr | |
| 95.01% - 97% | 0.79% | 0.90% |
| 90.01% - 95% | 0.56% | 0.78% |
| 85.01% - 90% | 0.23% | 0.52% |
| 80.01% - 85% | 0.19% | 0.32% |
| 80% or less | n/a | n/a |
Fannie Mae and Freddie Mac have loan limits as of 2020 up to $510,400. These limits are an increase from the long standing limit of $417,000 from 2005.
