PMI Calculator
When your down payment is less than 20%, lenders often require PMI. Enter your loan amount and home value to estimate monthly PMI and total PMI until you reach 80% LTV.
Estimate monthly PMI
Enter values to calculate.
How this is calculated
PMI is typically 0.5% to 1% of the loan amount per year, paid monthly. We apply a rate to the loan balance. Once your LTV drops below 80% (by paying down or appreciation), you can usually request cancellation.
Use this tool for
Use it to budget for PMI, to compare a smaller down payment plus PMI vs a larger down payment, or to see how extra payments reduce the period you pay PMI.
Common questions
Are closing costs included where relevant?
In tools that support it, you can enter estimated costs; otherwise add them separately.
Is this a substitute for a lender?
No. Use for planning; get official numbers from your lender.
