PMI Calculator – Private Mortgage Insurance
Estimate your monthly and total private mortgage insurance (PMI) costs. See how down payment, credit score, and loan terms affect your PMI.
Step 1: Loan Information
About PMI
Private mortgage insurance is typically required when your down payment is less than 20%. It protects the lender and can be cancelled once you reach 20% equity.
Step 2: PMI Settings
Typical for your credit/LTV: 0.70%
Understanding PMI rates
PMI rates vary by credit score and loan-to-value (LTV). Better credit and lower LTV usually mean lower PMI. The slider lets you adjust for your specific situation.
PMI Calculation Results
Estimated Monthly PMI
PMI by Credit Tier (Same LTV)
| Credit Tier | Typical Annual Rate | Monthly PMI | Annual PMI |
|---|
Monthly Payment Components
Principal & Interest (estimated) vs. PMI
PMI cancellation
PMI automatically cancels when your LTV reaches 78% of the original value. For this loan, estimated cancellation in ~6.2 years with regular payments.
Get a personalized PMI review
Speak with a mortgage advisor to understand your PMI options and find the best rates for your situation.
Talk to an Advisor