Loan Comparison: Using the Mortgage Insurance Worksheet

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The Mortgage Insurance Worksheet provides a Mortgage Insurance Estimate based on the type of loan (i.e. FHA, Conventional, etc.).

Using a Monthly Mortgage Insurance Worksheet

 

  1. Click Use worksheet under the Monthly Mortgage Insurance (MI) section
  2. The worksheet will automatically populate based on the type of loan you chose for the loan option.

Conventional Loans

  1. Choose Monthly or Single Premium.

  1. Click the dropdown for Loan Info to select a credit score.
  2. To add any additional modifiers such as Rate/term refinance, click the dropdown for Additional Modifiers. See example below:

  1. Once you are finished, click Update.

 FHA, USDA and VA Loans

  1. Loan info will be based on a 720-739 credit score. To view the loan information, click the Loan Info box dropdown.
  2. Additional Modifiers will have specific options based on the type of loan. To view modifiers available, click on the Additional Modifiers dropdown box. 
  3. Once you are finished, click Update.

Interest Only Loan Options

 

  1. You can choose if you would like to finance the funding fee by clicking the checkbox below the Finance Fee options drop down.
  2. Loan information will be based on a 720-739 credit score. You can review the Loan Information by clicking on the Loan Info dropdown.
  3. Once you are finished, click Update.

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