Why Use This PMI Calculator
Private Mortgage Insurance is an added cost for many homebuyers who put down less than 20%. This PMI calculator helps you:
- 💰 Calculate Monthly PMI — see exactly how much you’re paying each month.
- 📊 Find Cancellation Date — know when your LTV reaches 80% and you can request PMI removal.
- 📈 Understand the Impact — see total PMI paid over the life of the loan.
- 🔁 Factor in Appreciation — see how property value growth accelerates PMI cancellation.
- 📜 Track Your History — save, review, and export past calculations.
- 🔒 100% Private — all calculations run locally.
How PMI Is Calculated
Loan Amount = Home Price − Down Payment
Annual PMI Cost = Loan Amount × (PMI Rate / 100)
Monthly PMI = Annual PMI Cost ÷ 12
PMI Cancellation occurs when the loan balance drops to 80% of the home price (or current value with appreciation).
The calculator simulates your loan amortization month by month using your interest rate and loan term, tracking the loan balance until it reaches the 80% LTV threshold. If you include property appreciation, the threshold is recalculated based on the appreciated home value, which can significantly shorten the PMI duration.
How to Use This PMI Calculator
- Select your account currency from the picker in the site header.
- Enter the home price of the property.
- Enter your down payment amount.
- Enter the annual PMI rate (your lender will provide this; typical range is 0.3% – 1.5%).
- Enter your mortgage interest rate and loan term.
- Optionally, enter the expected annual property appreciation.
- View your results instantly — see your monthly PMI, total PMI, and cancellation timeline.
Frequently Asked Questions
What is PMI?
Private Mortgage Insurance (PMI) is a type of insurance that protects the lender if you default on your mortgage. It is typically required when your down payment is less than 20% of the home price.
How is PMI calculated?
PMI is calculated as an annual percentage of the loan amount, divided by 12 for monthly payments. The rate depends on your down payment percentage and credit score.
When can I cancel PMI?
You can cancel PMI when your loan-to-value (LTV) ratio reaches 80% or less. This can happen through principal payments, property appreciation, or a combination of both. This calculator shows you the exact month you can request cancellation.
Does PMI cost the same for everyone?
No. The PMI rate varies based on your down payment percentage and credit score. A larger down payment and higher credit score typically result in a lower PMI rate.
Is my data stored anywhere?
No. All calculations run locally in your browser. History and presets are saved in your browser’s localStorage — nothing is sent to a server.