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PMI Calculator

See the monthly and annual cost of a PMI assumption and estimate when scheduled principal payments could reach 80% of the original value.

Reviewed November 6, 2026 · Inputs and results stay in your browser.

Your scenario

Enter planning assumptions. Verify changing program fees with the linked primary sources.

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What your result means

The result applies your annual PMI-rate assumption to the original loan balance. The time estimate models scheduled principal reduction until the balance reaches 80% of the original home value.

Formula and assumptions

Monthly PMI = original loan × annual PMI rate ÷ 12. The 80% LTV estimate amortizes the loan using the entered rate and term while holding the home value constant.

  • The PMI rate and home value remain constant.
  • Payments are made on schedule with no extra principal.
  • The estimate uses 80% of original value and is not a lender cancellation decision.

Worked example

A $400,000 home with 10% down creates a $360,000 loan. At a 0.60% annual PMI assumption, the estimate is $180 per month.

Limitations

Actual PMI pricing depends on credit, loan-to-value, occupancy, loan type, insurer, lender, and coverage. Federal cancellation rights and lender requirements can differ from this simple estimate.

FAQ

Frequently asked questions

Can I request PMI cancellation at 80% LTV?

For many covered conventional loans, federal law permits a borrower request at 80% of original value if conditions are met. The servicer may require a written request, current payments, and evidence about property value and liens.

Is PMI automatically terminated?

For many covered loans, automatic termination generally occurs at 78% of original value when payments are current, but exceptions apply.

Does an appraisal remove PMI immediately?

Not automatically. Servicer rules, seasoning, investor requirements, payment history, and value evidence all matter.

Keep calculating

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