PMI Calculator

Estimate your monthly Private Mortgage Insurance and when it can be removed.

Home price

Down payment: % ()

Credit score

How to Use

1. Enter the home price, your down payment, and your credit score.
2. We estimate the annual PMI rate from your loan-to-value and credit band.
3. See the monthly PMI cost and the home value/payment point where PMI typically ends (78–80% LTV).

Calculation Method

Loan-to-value (LTV) = loan ÷ home price. We map LTV and credit score to an annual PMI rate (industry bands). Monthly PMI = loan × annual rate ÷ 12. PMI is generally cancellable at 80% LTV on request and auto-terminates at 78% LTV.

Data sources: Industry-standard PMI rate bands by loan-to-value and credit score.

Examples

$400,000 home, 10% down, 740 score

Loan $360,000 at ~0.5%/yr → roughly $150/mo PMI until 20% equity.

Frequently Asked Questions

Once your loan balance reaches 80% of the original value you can request cancellation; at 78% it must be removed automatically.

Yes. Higher credit scores generally receive lower PMI rates for the same loan-to-value.

Deductibility has changed over time and depends on current law and income. Consult a tax professional.

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Mortgage Information Disclaimer

The mortgage calculations on this site are estimates based on the information you provide. Actual mortgage terms, interest rates, and payments will vary based on your credit score and history, debt-to-income ratio, property type and location, loan program, lender-specific requirements, and market conditions.

SmartMortgageCalcs does not provide mortgage, financial, or legal advice. We are not a mortgage lender or broker. We strongly recommend consulting with multiple licensed mortgage lenders, working with a qualified real estate agent, reviewing all documents carefully before signing, and seeking advice from a financial advisor. Our estimates do not constitute a loan offer or commitment — final loan terms are determined by the lender. Interest rates and fees shown are illustrative only.

Last updated: May 19, 2026