PMI Calculator
Estimate your monthly PMI, when it will be removed, and the total PMI cost over your loan term.
About This Calculator
PMI (Private Mortgage Insurance) is required when your down payment is less than 20%. It protects the lender but adds to your monthly payment. This calculator shows when PMI will be removed and how much it costs.
Key Features:
- LTV calculation
- PMI removal timeline
- Total PMI cost projection
- Equity growth tracking
Frequently Asked Questions
When does PMI go away?
PMI is automatically terminated when your LTV reaches 78% of the original home value. You can also request cancellation at 80% LTV. Making extra payments accelerates removal.
How much does PMI cost?
PMI typically costs 0.3% to 1.5% of the loan amount annually. The exact rate depends on your credit score, LTV, and loan type. For a $300,000 loan, this could be $75-$375 per month.