PMI Calculator
Private mortgage insurance cost.
Enter your values
Enter the home price in $.
Enter the down payment in %.
Enter the pmi rate in %/yr.
Enter the mortgage rate in %.
Results update instantly as you type — no submit needed. Your values are remembered on this device, and the shareable link reopens the calculator with exactly these numbers.
- Monthly PMI
- $180.00
- Annual PMI
- $2,160.00
- Months until 80% LTV
- 95
- Total PMI paid
- $17,100.00
- Loan amount
- $360,000.00
Quick answer
PMI usually costs 0.3–1.5% of the loan a year and is removed once the loan falls to 78–80% of the home's value.
Monthly PMI = Loan × Rate ÷ 12
At a glance
| What it does | Private mortgage insurance cost. |
|---|---|
| Category | Real Estate |
| Inputs needed | Home price, Down payment, PMI rate, Mortgage rate |
| Main output | Monthly PMI |
| Formula | Monthly PMI = Loan × Rate ÷ 12 |
| Cost | Free — no sign-up, no download |
How to use the PMI Calculator
- 1Enter the home price and your down payment.
- 2Enter the PMI rate quoted by the lender.
- 3Add the mortgage rate to project when PMI drops off.
Inputs explained
- Home price($)
- Enter the home price in $.
- Down payment(%)
- Enter the down payment in %.
- PMI rate(%/yr)
- Enter the pmi rate in %/yr.
- Mortgage rate(%)
- Enter the mortgage rate in %.
Worked example
Using the values the calculator loads with:
Inputs
- Home price400000 $
- Down payment10 %
- PMI rate0.6 %/yr
- Mortgage rate6.5 %
Results
- Monthly PMI$180.00
- Annual PMI$2,160.00
- Months until 80% LTV95
- Total PMI paid$17,100.00
- Loan amount$360,000.00
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.
What do I need to enter into the PMI Calculator?
Just 4 values: home price, down payment, pmi rate, mortgage rate. Every field starts with a realistic example, so you can change one number at a time and watch the result update instantly.
How does the PMI Calculator work out the 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. It applies the formula Monthly PMI = Loan × Rate ÷ 12 and shows the working so you can check each step by hand.
Is the PMI Calculator free, and do I need an account?
It is completely free with no sign-up, no download and no usage limit. Everything is calculated in your browser, so the numbers you type never leave your device.
Results are estimates for general information. For medical, legal, structural or financial decisions, confirm with a qualified professional.