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PMI Calculator
PMI is what lets you buy with less than 20% down. It isn't a penalty — for most buyers, waiting years to save 20% costs far more in rising prices than PMI ever does.
What matters is knowing the cost and the exit. This shows both, including how appreciation and extra payments pull the cancellation date forward.
Your numbers
Driven by credit score, down payment and loan type.
Your results
Monthly PMI
$148
- Estimated months until removal
- 49 months
- Total PMI you'd pay
- $7,254
- Loan amount
- $323,000
- Starting loan-to-value
- 95%
- Cost of waiting to save 20%
- $51,000
About 4.1 years
Additional cash you'd need up front
What happens if you change this
PMI costs $148 a month at 5% down. With 3% appreciation, you'd reach 80% loan-to-value in roughly 49 months and pay about $7,254 total. Adding $100 a month in extra principal shortens that meaningfully — slide the extra-payment field to see it. Waiting to save the full 20% would require $51,000 more up front.
Ready for real numbers?
Estimates get you oriented. A pre-approval gets you an offer sellers take seriously.
Related calculators
- Mortgage Payment CalculatorSee your full monthly payment — principal, interest, taxes, insurance and mortgage insurance — not just principal and interest.
- FHA vs Conventional CalculatorCompare both programs on the same house — payment, cash required, and what mortgage insurance really costs over time.
- Extra Payment CalculatorSee how much time and interest a little extra principal each month actually saves.
- Cash to Close CalculatorThe single number that matters most at the start: how much you actually need in the bank.
Questions people ask
- Can I remove PMI early?
- Yes. Conventional PMI can generally be requested for removal at 80% loan-to-value, and cancels automatically at 78% of the original value. Appreciation can qualify you sooner with a new appraisal.
- Is PMI ever permanent?
- Conventional PMI is not. FHA mortgage insurance typically is, when you put down less than 10% — which is a key reason to compare the two programs.
Estimates for education only — not a loan approval, rate quote, or commitment to lend. Actual figures depend on credit, property, program guidelines, and market conditions at the time of lock. Corie Adams · NMLS #1875205 · Network Funding, LP · NMLS ID #2279 · Equal Housing Opportunity.