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Mortgage

PMI Calculator

Estimate your monthly private mortgage insurance and loan-to-value ratio. PMI usually applies while LTV is above 80%.

Your details

Monthly PMI
$125.00
Annual PMI
$1,500.00
Loan-to-value
80.00%
Monthly PMI$125.00

Formula

Monthly PMI = loan × annual PMI rate ÷ 12. LTV = loan ÷ home value.

How it works

PMI is figured as an annual percentage of your loan, divided by twelve for the monthly cost. It applies while your loan-to-value is above 80% — that is, until you have built about 20% equity in the home.

Frequently asked questions

When can I stop paying PMI?⌄

PMI can usually be removed once your loan-to-value reaches 80% through payments or appreciation, and lenders must cancel it automatically at 78% on most loans.

How much does PMI cost?⌄

Annual PMI commonly runs about 0.3-1.5% of the loan, depending on your down payment and credit. The calculator applies the rate you enter.

How can I avoid PMI entirely?⌄

Putting 20% down avoids it. Some borrowers also use a piggyback second loan or lender-paid PMI, though those carry their own trade-offs.

Sources & methodology

Last updated: 2026-07-20

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Learn more

How PMI Works and How to Avoid ItPMI explained: when private mortgage insurance is required, typical rates, how it is calculated, and how to remove or avoid it.Understanding Your Mortgage Payment (PITI)PITI explained: principal, interest, taxes, and insurance. Learn what makes up a monthly mortgage payment and why the rate is only part of it.What Is Loan-to-Value (LTV) and Why It MattersLoan-to-value explained: how LTV is calculated, the 80% threshold that avoids PMI, and how a lower LTV earns better mortgage rates.What Is an Escrow Account (Mortgage Escrow)Mortgage escrow explained: how lenders collect property tax and insurance monthly, the annual escrow analysis, shortages, and when escrow is required.
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