PMI Calculator
The insurance you pay when your down payment is under 20%.
Monthly PMI payment:
Annual PMI:
Months until 20% equity:
How to use this calculator
Enter the home price, down payment percentage, PMI rate and years, then press Calculate. Monthly and annual PMI plus the months to 20% equity are shown.
What the result means
PMI is the insurance you pay when your down payment is under 20%. It's an added monthly cost that disappears once you reach 20% equity — the calculator estimates when that is.
Frequently asked questions
How do I get rid of PMI?
Reach 20% equity and request removal, or refinance once your equity qualifies.
Is PMI tax-deductible?
Not for most borrowers since 2018 — check current rules for your situation.