Here is the calculation foe one lender

来源: CaLoanAgent 于 2007-10-18 07:20:14 [] [博客] [旧帖] [给我悄悄话] 阅读数 : 0 (377 bytes)

each lender has differenet formular.

Here is the formula from one lender(the factor of 0.52% is different for different CLTV; like 0.38% for 15% downpayment, etc)

250k*0.52%/12=108.33 each month.

MI will be waived when the LTV(loan to value ratio) is less than 80%.

BOFA and some other lenders will waive the MI. But the rate is a little bit higher.

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