PMI Calculator
Calculate your Private Mortgage Insurance costs and discover when you can remove PMI
PMI Calculator
Estimate your private mortgage insurance costs and removal timeline
The full PMI calculator is available on our main calculator page
Go to Main CalculatorUnderstanding PMI
Private Mortgage Insurance protects lenders when you put less than 20% down
Annual PMI Rate0.5% - 1%
Typically 0.5% to 1% of the loan amount per year
Required WhenLess than 20% down
PMI is required on conventional loans with less than 20% down payment
Can Be RemovedAt 20% equity
Request removal once you reach 20% equity through payments or appreciation
PMI Cost Examples
$300,000 Loan
Monthly PMI: ~$125-$250
$400,000 Loan
Monthly PMI: ~$167-$333
$500,000 Loan
Monthly PMI: ~$208-$417
Removing PMI
- Reach 20% equity through regular payments
- Home value increases significantly
- Pay extra principal to reach 20% faster
- Automatic removal at 22% equity
PMI vs Other Loan Types
How PMI differs from other mortgage insurance options
Loan TypeDown PaymentInsurance TypeRemovable
Conventional<20%PMIYes
FHA3.5%+MIPNo*
VA0%Funding FeeOne-time
USDA0%Guarantee FeeNo
* FHA MIP can only be removed after 11 years with 10%+ down
Calculate Your PMI Costs
Use our mortgage calculator to determine your exact PMI costs and plan your path to removing PMI.
Start Calculating