Mortgage Points Calculator
Points break-even.
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Real Estate
PMI Calculator
Estimate monthly private mortgage insurance from price, down payment and rate.
Monthly PMI
—
Private mortgage insurance.
| Loan-to-value | — |
|---|---|
| Loan amount | — |
| Annual PMI | — |
| — |
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Enter your figures above to see the step-by-step working.
Educational estimate — not a loan offerEverything computed client-side — nothing leaves this page
How the PMI Calculator Works
Private mortgage insurance (PMI) is charged when you put less than 20% down on a conventional loan. It’s quoted as an annual percent of the loan — commonly 0.3% to 1.5% depending on credit and down payment — and paid monthly. Multiply the loan by the rate and divide by 12. A $300,000 home with $30,000 down (a $270,000 loan) at 0.5% is about $112.50 a month.
PMI falls off automatically once the loan reaches 78% of the original value, and you can request removal at 80%. A bigger down payment lowers both the loan-to-value ratio and the PMI, and reaching 20% equity removes it entirely.
monthly PMI = loan × annual PMI rate ÷ 12
Frequently Asked Questions
When do I have to pay PMI?
On a conventional loan with less than 20% down. It protects the lender if you default and is added to your monthly payment.
How do I get rid of PMI?
It cancels automatically at 78% loan-to-value, and you can request removal at 80%. Paying down the balance or a rise in home value gets you there.
How much is PMI?
Typically 0.3%–1.5% of the loan per year, depending on your credit score and down payment. This calculator uses the rate you enter.
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