PMI Calculator

PMI prices vary by borrower and loan. Removal dates are an educational model, not a servicer's promise.

Published by the Mortgage Guide editorial team. Rate assumptions and content updated October 2026. This page is educational. It is not a loan offer, approval, or personalized financial advice.

Monthly PMI uses the annual rate you enter. Removal dates follow an educational reading of the 80% and 78% original-value milestones. Actual PMI pricing and cancellation depend on the loan, the servicer, and your payment history.

Original home value

Loan amount

Interest rate

Term in years

Annual PMI rate assumption

First payment month

Estimated monthly PMI $150.00

Current LTV 90.0%

Request-cancellation balance in this model: $320,000.00 at payment 98.

Automatic-termination balance in this model: $312,000.00 at payment 112.

Estimated PMI if it stays until the 80% milestone: $14,700.00.

How this calculator works

Monthly PMI is the loan times the annual PMI rate you enter, divided by 12.
The estimate applies only when the loan is above 80% of the original value.
The 80% balance is the point where many borrowers can ask to cancel PMI.
The 78% balance is the point where PMI may end automatically on the original schedule.

Cancellation has conditions this page cannot see

For many conventional loans, the Homeowners Protection Act describes borrower-requested cancellation around 80% of the original value and automatic termination around 78%, if payments are current and other conditions are met.

FHA MIP, VA funding fees, and lender-paid mortgage insurance do not follow this schedule. The total PMI figure assumes the premium stays level until the 80% milestone, which can differ from a real declining premium.

Sources

Common questions

Is 0.50% the real PMI price?

It is the starting assumption. Credit, down payment, and the lender change the actual rate. Replace it with a quote when you have one.

Can I remove PMI as soon as the balance hits 80%?

You can often request it, and the servicer can require a good payment history and evidence of value. This page only estimates the payment number on the original schedule.

Mortgage Payment Calculator
Estimate a US mortgage payment with principal, interest, taxes, insurance, HOA, and PMI. See the payoff date and amortization schedule.
Down Payment Calculator
Compare 5%, 10%, 15%, and 20% down. See cash required, the loan amount, the payment, and whether estimated PMI applies.
Home Equity Calculator
Estimate home equity in dollars and percent, plus borrowing room under a combined loan-to-value assumption you choose.

Longer guides on these topics are linked from the guides library.