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PMI calculator (private mortgage insurance)

Private mortgage insurance is charged when you put down less than 20%. From the price, down payment, term and rate the calculator finds your loan-to-value, estimates the annual PMI rate (or uses yours), and shows the monthly PMI, when it should drop off at 78% LTV, and the total PMI you'll pay until then.

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Need Loan-to-value (LTV), PMI rate used, Monthly PMI, PMI drops off after (months), Total PMI paid? The PMI calculator (private mortgage insurance) derives it from Home price, Down payment as, Down payment value, Loan term (years), Interest rate (APR), Annual PMI rate (0 = estimate) in one step. For instance, with Home price = $350,000.00, Down payment as = Percent of price, Down payment value = 10, Loan term (years) = 30, Interest rate (APR) = 6.5% and Annual PMI rate (0 = estimate) = 0% it returns Loan-to-value (LTV) = 90%, PMI rate used = 0.5% and Monthly PMI = $131.25.

How to use it

  1. Enter your values: Home price, Down payment as, Down payment value, Loan term (years), Interest rate (APR), Annual PMI rate (0 = estimate).
  2. Read the result instantly: Loan-to-value (LTV), PMI rate used, Monthly PMI, PMI drops off after (months), Total PMI paid.

Frequently asked questions

What does the PMI calculator (private mortgage insurance) actually compute?

It takes Home price, Down payment as, Down payment value, Loan term (years), Interest rate (APR) and Annual PMI rate (0 = estimate) and derives Loan-to-value (LTV), PMI rate used, Monthly PMI, PMI drops off after (months) and Total PMI paid from them. The calculation is live as you type, so the result updates on every change.

What information do I need to provide?

6 values: Home price ($), Down payment as, Down payment value, Loan term (years), Interest rate (APR) (%) and Annual PMI rate (0 = estimate) (%). Nothing else is required — no account, no file upload.

Can you show a worked example?

With Home price = $350,000.00, Down payment as = Percent of price, Down payment value = 10, Loan term (years) = 30, Interest rate (APR) = 6.5% and Annual PMI rate (0 = estimate) = 0%, the calculator returns Loan-to-value (LTV) = 90%, PMI rate used = 0.5% and Monthly PMI = $131.25. Those figures come from running this exact tool, so you can reproduce them by entering the same values.

What happens if I enter larger values?

It moves a lot. Using Home price = $700,000.00, Down payment as = Fixed amount, Down payment value = 20, Loan term (years) = 60, Interest rate (APR) = 7.15% and Annual PMI rate (0 = estimate) = 5% instead, Loan-to-value (LTV) goes from 90% to 100% — which is why it is worth testing a few scenarios rather than trusting a single figure.

Which “Down payment as” option should I choose?

You can pick between « Percent of price » and « Fixed amount ». Each one changes what the calculator works out, so switch and compare — the default is « Percent of price ».

Which units should I enter the values in?

Enter Interest rate (APR) % and Annual PMI rate (0 = estimate) %.

What does it give for smaller values?

Scaled down to Home price = $175,000.00, Down payment as = Percent of price, Down payment value = 5, Loan term (years) = 15, Interest rate (APR) = 5.85% and Annual PMI rate (0 = estimate) = 1%, Loan-to-value (LTV) comes out at 95%. The relationship is worth checking at both ends before you rely on a single result.

When would I actually use this?

Before making an offer: what the bank will lend, what the purchase costs on top of the price, and how much deposit closes the gap.

What is the most common mistake?

Budgeting for the price and forgetting the acquisition costs. Notary fees, transfer duty and registration add between 2% and 15% depending on the country — enough to sink an offer.

How accurate is it, and what are the limits?

Estimate only. PMI rates depend on credit score, loan type and insurer; US law cancels PMI automatically at 78% LTV of the original value. Not financial advice.

Further reading

All guides →
ExplainerPMI: What It Costs and How to Get Rid of ItPMI insures the lender and is billed to the borrower. On a $380,000 loan that is $228 a month at an illustrative 0.72 percent. The law gives you a request at 80 percent and an automatic exit at 78 percent — month 124 and month 135 on the schedule, but up to 86 months apart in real life.ExplainerFHA Loans and the Insurance That Does Not Go AwayAn FHA loan buys a lower entry barrier with a permanent cost. Two premiums: 1.75 percent upfront, financed, which costs $8,616 in interest on a $6,755 charge; and an annual premium that at the minimum down payment runs for the whole term. The break-even against a conventional loan is not a date — it is a PMI rate, and it is 1.26 percent.ExplainerVA Loans: The Funding Fee and What You Are Not PayingNo down payment, no mortgage insurance at any loan-to-value ratio, and one funding fee — 2.15 percent on a first-use purchase with nothing down, waived entirely for disability-compensated veterans. On a $400,000 house that $8,600 fee equals between two and seven years of the private mortgage insurance it replaces.GuideWhen Refinancing a Mortgage Actually Pays: France, Germany, ItalyThe rule of thumb everyone repeats — one point of rate gap — is not a rule and gets the timing wrong. What decides it is how much interest you have not yet paid, and the three countries answer the cost side in three completely different ways. Here is the arithmetic, computed.ExplainerIs a Mortgage Overpayment Worth It?See how overpaying a mortgage cuts total interest and shortens the term, and when investing the same money might beat paying the loan down faster.ExplainerMortgage Points: When Buying Down the Rate Actually PaysOne point on a $300,000 loan costs $3,000 and saves $47.93 a month. The naive break-even is 63 months; discounted at 4 percent it is 71. And the number that decides it is not either of those — it is how long you keep the loan.