Understand the estimate

How to use this PMI calculator

Enter the home price, down payment, interest rate, loan term, and an estimated annual PMI rate. The calculator converts that annual PMI assumption into a monthly amount and combines it with estimated principal, interest, property taxes, homeowners insurance, and HOA dues.

Important: PMI pricing is not one fixed percentage. Actual cost can vary based on factors such as credit profile, loan-to-value ratio, occupancy, loan type, term, and the mortgage insurer or lender.

What changes the monthly PMI estimate?

A larger down payment generally reduces the starting loan amount and loan-to-value ratio. The annual PMI rate entered also has a direct effect on the monthly estimate. Compare several down-payment and PMI-rate scenarios instead of relying on a single result.

PMI is different from homeowners insurance

Private mortgage insurance generally protects the lender against certain losses on qualifying conventional loans. Homeowners insurance covers risks described in the homeowner's policy. Both may affect the monthly payment, but they serve different purposes.

Compare the full payment

A lower down payment may preserve cash but can increase the loan amount and add mortgage insurance. Use the result alongside the down payment calculator and mortgage payment calculator to compare the monthly payment, cash required, and remaining reserves.

Questions to confirm before acting

  • What PMI rate applies to the actual borrower and loan?
  • Is the quoted mortgage insurance monthly, upfront, lender-paid, or structured another way?
  • Which cancellation or termination rules apply to the specific loan?
  • How do taxes, homeowners insurance, HOA dues, and other costs change the complete payment?

Use this calculator for education and planning only. It is not a loan quote, approval, commitment, or individualized financial advice. Confirm actual terms and requirements with qualified professionals.