US PMI Cost Calculator
Estimate private mortgage insurance using a rate supplied by you or your lender. See monthly cost, original LTV and cumulative cost over your chosen horizon.
Rule year: 2026 · USD · Sources checked
Illustrative monthly PMI
Illustrative level borrower-paid monthly conventional PMI only. No lender quote, declining-balance repricing, single upfront premium, split premium, financed premium, FHA MIP or VA funding fee. An original LTV of 80% or less does not automatically force the entered premium to zero; verify the actual product.
For informational purposes only. This estimate is not financial advice, a tax return, a payroll calculation or a lender decision. See the supported circumstances and exclusions below.
How this calculator works
PMI pricing depends on lender and insurer terms, loan characteristics and borrower information. This tool deliberately accepts the rate rather than guessing it. It applies a constant annual rate to original purchase principal and converts that premium to a monthly amount. The horizon is a user-chosen cost comparison, not a prediction of cancellation or a guarantee that the insurer charges this way.
Formula and rules
Purchase loan = price − down. Annual premium = purchase loan × PMI rate / 100. Monthly premium = annual premium / 12. Horizon cost = monthly premium × entered months.
Assumptions and limitations
Illustrative level borrower-paid monthly conventional PMI only. No lender quote, declining-balance repricing, single upfront premium, split premium, financed premium, FHA MIP or VA funding fee. An original LTV of 80% or less does not automatically force the entered premium to zero; verify the actual product.
Worked example
A $300,000 home with $30,000 down creates a $270,000 loan at 90% LTV. At an entered 0.5% annual rate, PMI is $1,350/year or $112.50/month; 36 months costs $4,050.
- Illustrative monthly PMI
- $112.50
- Annual PMI at entered rate
- $1,350.00
- Original loan-to-value
- 90%
- PMI over entered cost horizon
- $4,050.00
Official sources and review
Reviewed against the sources below on 2026-10-07. Rates are held in versioned rule modules. Versioned rules, official source review and year-specific calculation tests.
- CFPB: removing private mortgage insurance ↗
Conventional-loan 80% request and 78% original-schedule automatic-termination rules, subject to conditions.
Common questions
Where does the PMI rate come from?
Use the rate or annual premium basis supplied in your lender/insurer documents. This calculator does not infer a quote from credit score.
When will PMI end?
The months field is an assumption. PMI Removal models conventional original-schedule/request milestones separately, subject to legal and loan conditions.
Why can cost show at 20% down?
An entered rate is applied literally. Set it to zero if your confirmed loan has no PMI; not all insurance products follow the same rules.