Ownership cost
Cash retained against mortgage insurance paid, with the month the premium cancels itself and the assistance arithmetic.
Cash left above your reserve target
Computed
The loan
Share of price, paid in cash alongside the down payment.
Liquid cash you want left after closing. The recommendation respects it.
How long the premium is charged before the loan is repaid.
The tiers
3% down
Fits$3,153
$12,525 down · LTV 97%
10% down
$2,744
$41,750 down · LTV 90%
20% down
$2,294
$83,500 down · LTV 80%
Why the premium exists
Assistance, priced
Form of assistance
The extra rate on the first lien when it is paired with assistance.
Covered states at launch: MD — Maryland Mortgage Program, run by Maryland Department of Housing and Community Development. Program terms change with each funding round, so the figures above are yours to enter from the offer letter.
Mortgage insurance rates are seeded bands, not quotes. Your lender's rate sheet is the authority.
Mortgage insurance stops at 80% loan-to-value on request and at 78% automatically. So the comparison is not a bigger payment forever against a smaller one. It is a known premium for a known number of months against liquid cash that is gone at closing and hard to rebuild.
At 80% the borrower has to ask, and the servicer may require a current valuation. At 78% termination is automatic. The engine reports both months, because the gap between them is money a household can claim back with a phone call.
A down-payment programme usually funds a second lien alongside an agency first mortgage, and that first lien often carries a higher rate. The page prices the surcharge against the assistance, which is the number that decides whether the package is cheaper than a smaller down payment at market.
LTV = loan / price
premium = loan × MI band rate / 12
cancellation = first month the balance reaches 80% of price
net assistance = amount − (surcharge × balance × years)
One programme is carried at launch — the Maryland Mortgage Program — with no dollar figures attached, because terms change with every funding round and a stale limit is worse than a blank field. The arithmetic works for any offer you type in.