PMI (private mortgage insurance) is required on conventional loans when you put less than 20% down. It protects the lender if you default. You can often remove PMI once you reach 20% equity.

How much does PMI cost?

PMI typically costs 0.5–1.5% of the loan amount per year, paid monthly. This calculator estimates your PMI based on loan amount and LTV.

When can I remove PMI?

You can usually request PMI removal when your loan-to-value reaches 80% (from payments or appreciation). Some loans cancel PMI automatically at 78% LTV. Check your loan documents.

PMI Calculator

Estimate your monthly PMI cost. Free, no signup. Typical rates 0.5–1.5% per year.

Use the PMI Calculator below.

Estimate your PMI (private mortgage insurance) monthly and annual cost. Enter your loan amount and the PMI rate (typically 0.5% to 1.5% per year depending on LTV and credit). PMI is usually required when your down payment is less than 20%. This calculator gives you a quick estimate to budget for.

How to use PMI Calculator

Enter loan details
Input loan amount, home value, and PMI rate if known.
View PMI cost
See estimated monthly PMI and annual cost.
See removal timeline
Estimate when you may reach 80% LTV and remove PMI.

Features

Instant results — no waiting or signup.
Free to use — no hidden fees.
No login or account required.
Works on all devices — desktop, tablet, and mobile.
Your data stays private — we do not store your inputs.

Why use this calculator

Plan your finances with accurate estimates.
Compare scenarios in seconds.
Make informed decisions before you borrow or invest.

Supported browsers and devices

All modern browsers (Chrome, Firefox, Safari, Edge).
Mobile-friendly — use on phone or tablet.
No app download — runs in your browser.

Frequently asked questions

Complete guide to PMI Calculator

What is PMI?

PMI (Private Mortgage Insurance) is required by many lenders when your down payment is less than 20% of the home’s value. It protects the lender if you default. PMI typically costs 0.5%–1.5% of the loan amount per year, added to your monthly payment. Once your equity reaches 20% (by payment schedule or appreciation), you can often request removal of PMI.

How to avoid or remove PMI

Put down 20% or more to avoid PMI altogether.
Pay down principal until loan-to-value (LTV) reaches 80%; then request cancellation.
Get a piggyback loan (e.g. 80/10/10) to avoid PMI; compare total cost.
Some loans (e.g. VA, USDA) do not require PMI; check eligibility.

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Disclaimer

Our financial calculators are for informational and educational purposes only. Results are estimates based on the inputs you provide and standard formulas. They are not financial, tax, or legal advice. We do not store or share the numbers you enter.