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Mortgage Insurance Calculator

Period to Termination

Who This Calculator is For: Borrowers who want to know how long they
will have to pay mortgage insurance premiums on their current mortgage.

What This Calculator Does:This calculator indicates how long it may take before ratios
of loan balance to property value allow termination of mortgage insurance (see note below)

Enter the Following Information:
  Current Loan Balance  (e.g. 100000)
  Interest Rate  (e.g. 7.50)
  Monthly Payment (principal and interest only)  (e.g. 575.68)
  Number of Months Since Start of Loan (zero if new loan)
  Property Value at Time of Loan
  Expected Future Appreciation Rate (Per Year)

DO NOT USE DOLLAR SIGNS ($), COMMAS (,) PLUS OR MINUS SIGNS ( + / - )
OR PERCENTAGE SIGNS (%) IN ANY INPUT BOXES

 

Read What the Mortgage Professor Says About Cancelling Mortgage Insurance

Note: Termination will occur automatically when the loan balance reaches 78% of original property value. Termination may occur earlier at the request of the borrower in the following situations: the loan balance has fallen to 80% of the original property value; the loan balance has fallen to 75% of the appreciated value during years 2-5; or the loan balance has fallen to 80% of appreciated value after year 5.