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730 North Duke Street
Lancaster, Pa.  17602 USA
Office: (717)392-6222
Cell: (717) 940-5760
Fax: (717) 392-6221

E-mail:
MikeStum@hotmail.com

 

   Mike Stum
   Broker or Record
License Number: RM-419727

My goal is to be the best Lancaster County PA Realtor by offering my clients the highest degree of service and professionalism they have every
right to expect.
 
MORTGAGE CALCULATOR

Do not use commas

Loan Amount:

Term in Years:

Annual Tax:

Annual Insurance:

Interest Rate:

Monthly Principal and Interest:
Monthly Tax:
Monthly Insurance:
Total Payment:

All figures are estimates

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*Mortgage insurance, also known as private mortgage insurance (PMI) or lenders mortgage insurance (LMI), is an insurance policy protecting lenders from the potential default of borrowers. The policy is purchased by the lender, and the premiums are passed along to borrowers as a fee tacked onto the monthly mortgage payment. Mortgage insurance is typically required for mortgages for which the down payment is less than 20% of the purchased property's value.

Mortgage Insurance Premiums vary with different Loan To Value r (LTV) ratios.  For an estimate of the cost of mortgage insurance, multiply the loan amount times the appropriate figures below,  and divide by 12.  Add this amount to the "Total Payment".

   

 Total Payment excludes
    monthly *Mortgage Insurance
premium
for home purchasers using less than a 20% Down Payment
 

      For credit scores under 680:
      Loan amount  x 2% for 100% LTV

      For credit scores over 680:
      Loan Amount  x .0096 for 100% LTV

       Loan Amount  x .0078 for 95% LTV