Enter the loan amount and property value into the calculator to determine the Loan to Value Mortgage Insurance. This calculator can also evaluate any of the variables given the others are known.
Lvmi Formula
The following formula is used to calculate the Loan to Value Mortgage Insurance (LVMi).
LVMi = (L / V) * MI
Variables:
- LVMi is the Loan to Value Mortgage Insurance
- L is the loan amount
- V is the property value
- MI is the mortgage insurance rate
To calculate the Loan to Value Mortgage Insurance, divide the loan amount by the property value, then multiply the result by the mortgage insurance rate. This will give you the amount of mortgage insurance you will need to pay based on the loan-to-value ratio.
How to Calculate Lvmi?
The following steps outline how to calculate the Loan to Value Mortgage Insurance (LVMi) using the formula: LVMi = (L / V) * MI.
- First, determine the loan amount (L).
- Next, determine the property value (V).
- Next, determine the mortgage insurance rate (MI).
- Next, insert the values into the formula: LVMi = (L / V) * MI.
- Finally, calculate the Loan to Value Mortgage Insurance (LVMi).
- After inserting the variables and calculating the result, check your answer with the calculator above.
Example Problem:
Use the following variables as an example problem to test your knowledge:
Loan amount (L) = $200,000
Property value (V) = $250,000
Mortgage insurance rate (MI) = 0.5%
