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Monthly Premiums

MIF Coverage Loan to Value Ratio Reduces Exposure To Refundable Declining/Constant
28% 97.01 - 100% 72% 1.02
26% 96.01 - 97% 72% 0.80
25% 95.01 - 96% 72% 0.78
25% 90.01 - 95% 72% 0.67
20% 85.01 - 90% 72% 0.42
17% 80.01 - 85% 71% 0.37
  • Loans must fully amortize in 30 years.

  • Declining: The first year and the renewal rate for years two through term are the same. The annual rate is applied to the outstanding balance at the time of renewal.

  • Constant: The first year rate and the renewal rate for years two through 10 are the same. The annual rate is applied to the original insured loan amount at the time of renewal. For years 11 through term, the rate is reduced to 0.20% for loans with Loan to Value Ratios exceeding 95%, and 0.19% for loans with Loan to Value Ratios of 95% and below.

  • The "Reduces Exposure To" calculation is based on the highest Loan to Value Ratio in each category.

  • No upfront payments are required. The first Mortgage Insurance payment is due the same month as the borrower's first Principal and Interest payment.

Last updated: 5/1/2013

For more information about SONYMA mortgages call: 1-800-382-HOME (4663)