PMI Calculator
Private mortgage insurance cost.
Enter your values
Results update instantly as you type — no submit needed.
Results
- Monthly PMI
- $180.00
- Annual PMI
- $2,160.00
- Months until 80% LTV
- 95
- Total PMI paid
- $17,100.00
- Loan amount
- $360,000.00
Quick answer
PMI usually costs 0.3–1.5% of the loan a year and is removed once the loan falls to 78–80% of the home's value.
Monthly PMI = Loan × Rate ÷ 12
How to use the PMI Calculator
- 1Enter the home price and your down payment.
- 2Enter the PMI rate quoted by the lender.
- 3Add the mortgage rate to project when PMI drops off.
Frequently asked questions
Can PMI be cancelled?
Yes — request cancellation at 80% LTV; it auto-terminates at 78%.
Does FHA MIP work the same?
No, FHA mortgage insurance often lasts the life of the loan.