Estimate your Private Mortgage Insurance (PMI) costs if your down payment is less than 20%.
Loan Scenario
Typically ranges from 0.5% to 1.5% based on credit score.
PMI Estimate
Monthly PMI Cost$158.33Required until 20% equity
LTV Ratio95.0%
Annual PMI Cost$1,900.00
Loan Amount:$380,000
Status:PMI ESCROW REQUIRED
About this calculator
Overview
Private Mortgage Insurance (PMI) is a type of mortgage insurance you might be required to pay if you have a conventional loan and make a down payment of less than 20% of the home's purchase price.
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Pro Tips
PMI protects the lender, not you, in case you default on your loan.
The rate is determined by your credit score and your debt-to-income ratio.
You can usually request to cancel PMI once you reach 20% equity (80% LTV).
By law, lenders must terminate PMI automatically when your LTV reaches 78%.
