How much will my monthly PMI payment be?

PMI can usually be removed once your loan-to-value ratio drops to 80% or below. This happens either as you pay down your mortgage principal or as your home's value increases. Both calculators show the equity or home value needed to reach that 80% threshold.

Does my credit score affect my PMI rate?

If you put down less than 20% on a conventional loan, PMI is typically required. Some lenders offer lender-paid PMI options where the cost is built into your interest rate, or you can wait to buy until you have a 20% down payment to avoid it entirely.

Can I avoid PMI without a 20% down payment?

Both calculators are free to use with no subscription or account required. You can run multiple scenarios by changing your down payment, home price, or PMI rate to see how the numbers shift.

Are these PMI calculators free to use?

Yes, both tools are free to use with no subscription or account required. You can run multiple scenarios by changing your down payment, home price, or PMI rate to see how the numbers shift.

Loans & Mortgages2 options compared

PMI Calculator

Homebuyers and homeowners often encounter private mortgage insurance when making a down payment of less than 20 percent on a conventional loan. The PMI Calculator provides a straightforward way to estimate these monthly insurance costs by factoring in key variables such as the home price, down payment amount, and loan term. By calculating these potential expenses early in the home-buying process,...

Mortgage and real estate calculators

Editors’ Top PickBased on community votes

Financial Toolset

financialtoolset.com

Calculate private mortgage insurance (PMI) costs. Estimate monthly PMI payments and when you can remove PMI. Free PMI...

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Other OptionsRanked by votes

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Omni Calculator
omnicalculator.com
PMI calculator estimates the private mortgage insurance you'll pay for a mortgage loan based on your credit score and...
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Side by side

PMI Calculator options compared

Tool	Best for	Strengths	Limitations
Financial Toolset financialtoolset.com	Users who need full PMI removal timeline	Shows monthly PMI payment amount Calculates equity needed to remove PMI Displays home value threshold to reach 80% LTV	Requires manual PMI rate input from lender Ads on the page
Omni Calculator omnicalculator.com	Quick credit-score-based PMI rate lookup	Integrates credit score into PMI rate Cleaner layout with fewer distractions Part of a large network of mortgage calculators	Less detailed on exact removal timeline PMI rate depends on credit score input

Buyer's guide

How to choose a pmi calculator

When picking a PMI calculator, the two things that matter most are the down payment size and your loan-to-value ratio, since PMI is only required when LTV exceeds 80%. You also want to know not just the monthly cost but how quickly you can eliminate it by building equity. The Financial Toolset calculator gives you those removal milestones directly, while Omni Calculator is faster if you mainly need a rate estimate tied to your credit score.

Questions

PMI Calculator FAQ

How much will my monthly PMI payment be?: PMI can usually be removed once your loan-to-value ratio drops to 80% or below. This happens either as you pay down your mortgage principal or as your home's value increases. Both calculators show the equity or home value needed to reach that 80% threshold.
Does my credit score affect my PMI rate?: If you put down less than 20% on a conventional loan, PMI is typically required. Some lenders offer lender-paid PMI options where the cost is built into your interest rate, or you can wait to buy until you have a 20% down payment to avoid it entirely.
Can I avoid PMI without a 20% down payment?: Both calculators are free to use with no subscription or account required. You can run multiple scenarios by changing your down payment, home price, or PMI rate to see how the numbers shift.
Are these PMI calculators free to use?: Yes, both tools are free to use with no subscription or account required. You can run multiple scenarios by changing your down payment, home price, or PMI rate to see how the numbers shift.

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