Free PMI Calculator

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PMI Calculator

How much will PMI add to your monthly mortgage?

If you put less than 20% down, your lender charges PMI. See exactly how much.

A round number works fine. The North Shore MA median is about $500K.
↓ Next: your down payment
Dollar amount, not percent.
Advanced options (interest rate, loan term, credit score)
Current 30-yr fixed: 6.25% to 7.0%
Most common: 30
Skip if you don’t know. Higher scores pay less for PMI.
Your monthly PMI
$0
per year
Total monthly
$0
Loan amount
$0
Loan-to-Value
0%
See what PMI looks like at other down-payment levels
Down payment LTV Monthly PMI Annual PMI
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PMI rates shown are estimates based on industry averages by LTV bracket; your actual rate depends on credit score, debt-to-income ratio, and lender. PMI automatically cancels when your loan balance reaches 78% LTV per federal law (HPA 1998), and you can request cancellation at 80% LTV with a formal request. Talk to GoldCoast Mortgage for an exact PMI estimate on your scenario.

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About PMI

What is PMI?

Private Mortgage Insurance is a monthly insurance premium your lender charges when your loan-to-value (LTV) ratio is above 80% (i.e., you put less than 20% down). It protects the lender if you stop making payments.

How much does PMI cost?

Typically 0.3% to 1.5% of your loan amount per year, depending on LTV bracket and credit profile. On a $400,000 loan, that’s $1,200 to $6,000 per year, or $100 to $500 per month. The calculator above gives you a specific number for your scenario.

When does PMI cancel?

By federal law (Homeowners Protection Act of 1998), PMI automatically terminates when your loan balance reaches 78% of the original home value. You can also request cancellation at 80% LTV with a formal written request. Cancellation is usually triggered by appreciating home value or extra principal payments.

How to avoid PMI

Put 20% or more down at closing. If that’s not feasible, ask GoldCoast about LPMI (lender-paid PMI built into the rate), piggyback loans (80/10/10 structures), or FHA loans which have a different insurance structure (MIP) with different cancellation rules.

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