Borrow · Private mortgage insurance
Private mortgage insurance calculator
Estimate monthly PMI for a conventional mortgage with this illustrative formula: original loan amount × annual PMI rate ÷ 12 when the down payment is below 20%.
Scenario inputs
Change the assumptions.
- Home price
- Down payment
- Annual PMI rate (% / year)
Open the interactive calculator to enter values and share a link containing the scenario.
How it works
The down payment changes the monthly cost.
The estimate applies an annual PMI rate to the original loan amount when the down payment is below 20% of the home price. The chart shows how the monthly estimate changes at several down-payment levels.
This is an educational estimate, not a lender quote. PMI rates vary by loan type, credit profile, lender, and other underwriting factors. The calculation does not model FHA mortgage insurance, upfront premiums, amortization, or cancellation schedules.
Common questions
Before you use the number.
When does PMI usually apply?
For many conventional loans, PMI may be required when the down payment is below 20% of the home price. Loan rules and lender requirements vary.
How much does private mortgage insurance cost?
There is no single PMI price. This illustration multiplies the original loan amount by the annual PMI rate and divides by 12. Actual premiums vary by lender, loan type, credit profile, and loan-to-value ratio.
How is PMI calculated?
The calculator multiplies the original loan amount by the annual PMI rate and divides by 12. It shows $0 when the down payment is 20% or more.
Does PMI automatically end?
This calculator does not model cancellation or amortization. Ask the lender or servicer about the cancellation rules for the loan you are considering.
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