Private Mortgage Insurance (PMI) Cost Calculator
Estimate your PMI cost and see when you can drop it.
All calculations happen locally in your browser — nothing is uploaded, stored or tracked.
Enter home price and down payment
The smaller the down payment, the higher the rate usually is.
Set the PMI rate
A reasonable estimate for your situation.
Read the cost
Monthly, annual and the 20%/22% equity milestones.
What Is PMI?
Private Mortgage Insurance protects the lender when your down payment is under 20%, which is why most lenders require it. The cost is typically 0.3–1.5% of the loan amount per year, added to your monthly payment.
PMI does not last forever — it is usually removed automatically once your equity reaches 22% (or at your request at 20%). The calculator shows the monthly and annual cost, and the equity milestones.
The Method
The PMI rate you enter is the key assumption — it varies with credit score, loan type and down payment. 0.5% is a common low-end figure; 1%+ applies with smaller down payments.
Your data never leaves your device.
Every calculation on this site runs in your browser using vanilla JavaScript. Nothing is uploaded, stored or tracked.
- 100% local, client-side calculations
- No data stored on any server
- No tracking, no analytics, no ads scripts
- Works offline once loaded
Frequently Asked Questions
How much is PMI?
Typically 0.3–1.5% of the loan amount per year, depending on down payment and credit. On a $300k loan at 0.5%, that is $125/month.
How do I avoid PMI?
Put down 20%, use a piggyback loan, or choose a lender-paid option (often with a slightly higher rate).
When does PMI end?
Lenders must cancel it automatically at 22% equity; you can usually request cancellation at 20% based on current value.
Is PMI tax-deductible?
Treatment has changed over the years and by jurisdiction — check current rules for your situation.
Do all loans require PMI?
No — VA loans and some programs do not; FHA loans use a similar mortgage insurance premium instead.