Mortgage Insurance Programme

Mortgage Insurance Programme

Make your dream of owning a property a reality with the Mortgage Insurance Programme

Mortgage Insurance Programme

 

For Key Facts Statement for Residential Mortgage Loan, please click here.

Why take the Mortgage Insurance Programme?

  • Loan amount up to 90%* of the property purchase price or the appraised value, whichever is lower
  • Loan tenor up to 30 years
  • New Purchase, Refinancing and Cash-out Refinancing
  • Free property valuation
  • Competitive mortgage terms
  • Comprehensive professional services – make an e-Appointment with our Home Advice Specialists now

* Applicable to First-Time-Home-Buyer who fulfilled relevant requirements only.

 

Features

Mortgage Insurance Programme offers a loan-to-value ratio up to 90% to suit your personal needs.

 

Mortgage Insurance Programme

Mortgage Type

New mortgage for primary market properties (completed or under construction) and secondary market properties, refinancing and cash-out refinancing

Maximum Property Value

HK$6,000,000

Property Type

Regular property types and village-type houses1

Maximum Loan Amount

HK$4,800,0001

Maximum Loan Tenor

30 years

EligibilityPersonal Customers and Self-use residential properties
Premium2 (can be financed with the mortgage loan in one lump sum)A mortgage insurance premium is required
Cash-Out Refinancing3Loan-to-value ratio up to 80%, cap at HK$4,800,0001
  1. A loan-to-value ratio of up to 80% can be offered for selected village-type houses that are approved by the Bank.
  2. Please refer to the enclosed premium reference table.
  3. Maximum loan tenor of cash-out refinancing is 25 years.
The above product features are for reference only. The Bank reserves the right to change the features from time to time without prior notice. Please contact our staff for details.
Final approval is subject to the decision of the Hong Kong Mortgage Corporation Limited.
 
 

Premium reference table

Loan-To-Value(LTV) Ratio

Tenor

Single Premium
(% of the original loan amount)

Annual Premium Payment

First Year
(% of the original loan amount)

Renewal
(% of the original loan amount)

60% up to 80%

10

1.15

0.58

0.28

15

1.50

0.79

0.28

20

1.85

0.93

0.28

25

2.00

1.00

0.28

30

2.15

1.11

0.28

60% up to 85%

10

1.80

0.82

0.53

15

2.28

1.02

0.53

20

2.68

1.13

0.53

25

2.95

1.29

0.53

30

3.05

1.40

0.53

60% up to 90%

10

2.60

1.09

0.77

15

3.18

1.39

0.77

20

3.75

1.62

0.77

25

4.10

1.79

0.77

30

4.35

2.03

0.77

  1. Final approval is subject to the decision of the Hong Kong Mortgage Corporation Limited.
  2. The above insurance premium (LTV threshold at 60%) is subject to the applicable rate quoted by the Hong Kong Mortgage Corporation Limited from time to time.
 

Why take the Mortgage Insurance Programme?

  • Loan amount up to 90%* of the property purchase price or the appraised value, whichever is lower
  • Loan tenor up to 30 years
  • New Purchase, Refinancing and Cash-out Refinancing
  • Free property valuation
  • Competitive mortgage terms
  • Comprehensive professional services – make an e-Appointment with our Home Advice Specialists now

* Applicable to First-Time-Home-Buyer who fulfilled relevant requirements only.

Reminder: To borrow or not to borrow? Borrow only if you can repay!

Topics

Mortgage

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