Lisbon Community Federal Credit Union

Private Mortgage Insurance (PMI) is required on all loans with less than a 20% down payment. This insurance protects lenders against some or most of the losses that result from defaults on home mortgages. The monthly PMI premiums are added to your monthly mortgage payment. These premiums are based on the Loan-to-Value (LTV) of the loan. Below are comparisons of premiums for 15 and 30-year mortgages based on purchase prices of $150,000 and $200,000.

1.) $150,000 Purchase Price
15 Years

% Down	Premium
5%	$49.88/mo
10%	$14.63/mo
15%	$10.63/mo
20%	None

2.) $150,000 Purchase Price
30 Years

% Down	Premium
5%	$74.81/mo
10%	$43.88/mo
15%	$22.32/mo
20%	None

3.) $200,000 Purchase Price
15 Years

% Down	Premium
5%	$66.50/mo
10%	$19.50/mo
15%	$14.17/mo
20%	None

4.) $200,000 Purchase Price
30 Years

% Down	Premium
5%	$99.75/mo
10%	$58.50/mo
15%	$29.75/mo
20%	None

This insurance remains on your loan until the LTV is 80% or less.

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