As housing prices continue to be high, securing a significant down payment can be challenging. Many home buyers are turning to high-ratio mortgages. A high ratio mortgage is a mortgage loan higher than 80% of the lending value of the property. This High Ratio Mortgage calculator helps to determine the amount of mortgage insurance you will pay on a high ratio mortgage.
High Ratio Mortgage Calculator
Your insurance premiums will depend on the percentage of the down payment.
More money is borrowed in an insured mortgage because of a smaller down payment, so more interest is paid. As a result, a high ratio mortgage costs more. Your insurance premiums will depend on the percentage of the down payment. The High Ratio Mortgage Calculator considers the purchase price of a home, the down payment amount and the amortization period to offer the monthly payment amount you can expect.
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High Ratio Mortgage Calculator
Companion Infographic
The high-ratio mortgage infographic illustrates how high-ratio mortgage work and how insurance premiums are determined. This companion infographic works well with the high ratio mortgage calculator to illustrate the concept clearly.
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