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Mortgage PMI Calculator

Cost and duration of private mortgage insurance.

Monthly PMI
$186
10.0% down — PMI required

PMI cost

Monthly P&I (loan only)$2,694
+ Monthly PMI$186
Monthly total$2,880
Auto-cancellation at 78% LTV~9.6 yrs
Total PMI paid before drop$21,347

Conventional loans require Private Mortgage Insurance when LTV exceeds 80%. PMI rates run 0.3–1.5% of the loan annually depending on credit and LTV. By law (Homeowners Protection Act of 1998), PMI must auto-cancel when scheduled LTV reaches 78% based on amortization. You can request earlier removal at 80% LTV with current value or via reappraisal.

About

Enter home price, down payment, rate, and term. Get monthly PMI, total PMI you'll pay before it auto-cancels at 78% LTV (per the Homeowners Protection Act), and the years it takes to get there.

How to use

  1. Enter home price and down payment.
  2. Enter rate and term.
  3. Read PMI cost.

FAQ

When does PMI go away?+

By federal law, conventional-loan PMI auto-cancels when scheduled LTV reaches 78% based on amortization. You can request removal at 80% LTV, sometimes earlier with a new appraisal showing equity. FHA loans have a different (and often permanent) MIP.