Mortgage Calculator with PMI

Understand The Costs of Private Mortgage Insurance (PMI)

You can get a home loan with less than a 20% down payment, but the lender oftentimes requires that you purchase PMI. The requirement is also likely to be removed when you reach 20% equity in your home.

You can get a home loan with less than a 20% down payment, but the lender oftentimes requires that you purchase PMI.
The requirement is also likely to be removed when you reach 20% equity in your home.

You can get a home loan with less than a 20% down payment, but the lender oftentimes requires that you purchase PMI.
The requirement is also likely to be removed when you reach 20% equity in your home.

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You are typically required to pay PMI if your down payment is less than 20%.

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Private mortgage insurance (PMI) rates typically range from 0.58% to 1.86% and depend on your credit score, loan-to-value (LTV) ratio, and debt-to-income (DTI) ratio.
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Real Estate Analysis of Home Ownership Affordability

VA and Nationwide Home Price

2 years
5 years
10 years
15 years
All
Source: Freddie Mac House Price Index (FMHPI)

Accurate Calculation with PMI


Customized for you

Every factor of a mortgage is of upmost importance, including the PMI. The PMI quoted by lenders can vary by as much as 0.50%. Even though the PMI is likely to be removed once you hit 20% equity, it will still cost thousands of dollars!

Please remember to shop PMI rates and mark the date when you are likely to hit 20% equity.

FAQ’s


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