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Mortgage Insurance Premium Rate Table

*Source: The Hong Kong Mortgage Corporation Limited (HKMC) (The below information is for reference only)


Mortgage Type:Floating Rate   |   Loan-to-value Ratio (LTV):Above 70% and up to 75%

Loan Tenor (Years) 10 15 20 25 30
Premium Payment(% of the Original Principal Balance) 0.55 0.60 0.65 0.70 0.75
First Year(% of the Original Principal Balance) - - - - -
Renewal(% of the Original Principal Balance) - - - - -


Mortgage Type:Floating Rate   |   Loan-to-value Ratio :Above 75% and up to 80%

Loan Tenor (Years) 10 15 20 25 30
Premium Payment(% of the Original Principal Balance) 1.00 1.15 1.40 1.50 1.65
First Year(% of the Original Principal Balance) 0.50 0.60 0.70 0.75 0.85
Renewal(% of the Original Principal Balance) 0.24 0.24 0.24 0.24 0.24


Mortgage Type:Floating Rate   |   Loan-to-value Ratio (LTV):Above 80% and up to 85%

Loan Tenor (Years) 10 15 20 25 30
Premium Payment(% of the Original Principal Balance) 1.55 1.80 2.15 2.30 2.40
First Year(% of the Original Principal Balance) 0.70 0.80 0.90 1.00 1.10
Renewal(% of the Original Principal Balance) 0.45 0.45 0.45 0.45 0.45


Mortgage Type:Floating Rate   |   Loan-to-value Ratio (LTV):Above 85% and up to 90%

Loan Tenor (Years) 10 15 20 25 30
Premium Payment(% of the Original Principal Balance) 2.15 2.50 2.98 3.35 3.55
First Year(% of the Original Principal Balance) 0.90 1.09 1.28 1.46 1.65
Renewal(% of the Original Principal Balance) 0.63 0.63 0.63 0.63 0.63

The Hong Kong Mortgage Corporation Limited (HKMC) announced that revisions will be made to the eligibility criteria for the Mortgage Insurance Programme (MIP). The revisions will apply to MIP applications with provisional sale and purchase agreement signed on or after 23 February 2013.

For homebuyers who have executed the provisional sale and purchase agreement on or before 22 February 2013, their mortgage loan applications may be submitted by the MIP participating banks for processing in accordance with the existing scope and criteria of the MIP.

Currently, properties with value at or below HK$6 million are eligible for the maximum MIP cover of 90% loan-to-value (LTV).

After the revisions, only mortgage loans of properties with value at or below HK$4 million will be eligible for the maximum MIP cover of 90% LTV.

Properties with value above HK$4 million and below HK$4.5 million will be eligible for MIP cover up to HK$3.6 million, being 80-90% LTV, while properties with value at or above HK$4.5 million will only be eligible for the maximum MIP cover of 80% LTV. The cap on the value of properties under MIP will remain unchanged at HK$6 million.