Mortgage Insurance (PMI) Calculator

Private mortgage insurance is a recurring cost most buyers carry until enough equity builds up, and knowing both the monthly figure and the removal date makes it easier to plan around. In 2026, premiums generally run between 0.3% and 1.5% of the original loan amount each year, with your credit score and loan-to-value ratio determining where you land in that range. Treating PMI as temporary rather than permanent is the right mindset for budgeting.

Your loan amount, interest rate, and estimated PMI rate produce the monthly premium, and the tool then walks the loan balance forward through your scheduled principal and interest payments. Two thresholds matter: 80% LTV, where you can request cancellation, and 78%, where the Homeowners Protection Act requires the lender to drop it automatically. The projection assumes a fixed rate and steady payments throughout.

Extra principal moves the removal date earlier, since anything you pay above the schedule chips away at the balance faster than the amortization table predicts. Refinancing works the other way, resetting your LTV and sometimes pulling PMI back into the picture. And even when your LTV against the original value clears 80%, some lenders insist on a fresh appraisal before they sign off.