Dashboard › Forums › 6. IMG app › How do I calculate mortgage insurance?

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  • Peter Williams
    Participant
    July 25, 2020 at 3:41 pm
    Post count: 3
    #370

    I’m not sure if one of the loans I am considering has mortgage insurance. How can I tell and how do I calculate it if I want to enter it correctly?

    nhamilton
    Keymaster
    July 31, 2020 at 6:57 pm
    Post count: 30
    #380

    Hi, ask your loan officer for the full details of the loan you are considering. As a general rule, if you put less than 20% down on a property, the loan will likely have mortgage insurance. Mortgage insurance can be listed in a quote or Loan Estimate as a monthly fee or yearly fee. To enter it, just make sure you put it in the correct format, either monthly or yearly.

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