BYTETOOLS

PMI Calculator

Estimate monthly private mortgage insurance, find the month your balance crosses 80% and 78% loan-to-value, and total the PMI you pay before it drops off.

$315,000
Loan amount
90.0%
Starting LTV
$73.50
Monthly PMI
$7,532.64
Total PMI paid

When does PMI stop?

7 yr 11 mo
Reaches 80% LTV
9 yr 1 mo
Reaches 78% LTV
Sep 24, 2035
Estimated end date

Monthly principal and interest is $1,991.01, so your payment including PMI starts at $2,064.51 and drops to $1,991.01 once PMI ends.

PMI costs about $882a year at today's balance. Asking your servicer to cancel at 80% rather than waiting for the automatic 78% termination typically saves several months of premiums.

Cancellation months are based on the loan's scheduled amortisation against the original value, which is how the US Homeowners Protection Act works — extra payments or a rise in market value may let you cancel sooner, usually after a new appraisal. Rules and PMI pricing differ by country, lender and loan type, so treat every threshold here as an editable assumption. Estimates only, not financial advice.

What is the PMI Calculator?

The ByteTools PMI Calculator estimates private mortgage insurance on a home loan and, more usefully, tells you when you can get rid of it.

  • Monthly PMI from balance × annual rate ÷ 12
  • Suggested rates banded by loan-to-value and credit tier, all editable
  • Walks the amortisation schedule to find both cancellation months
  • Totals the premiums paid before PMI drops off
  • Shows your payment with PMI and after it ends
  • Local, private calculation; estimates only, not advice

How to use the PMI Calculator

  1. 1

    Enter the home price or appraised value, your down payment, the interest rate and the term.

  2. 2

    Choose a credit tier to get a suggested annual PMI rate, then click to apply it or type your own.

  3. 3

    Adjust the request and automatic cancellation LTV thresholds if your loan uses different ones.

  4. 4

    Read the monthly PMI, the starting LTV and the total PMI you are projected to pay.

  5. 5

    Check the cancellation panel for the months at which each threshold is reached and the estimated end date.

About the PMI Calculator

The ByteTools PMI Calculator estimates private mortgage insurance on a home loan and, more usefully, tells you when you can get rid of it. Monthly PMI is your loan balance multiplied by an annual PMI rate and divided by twelve, so the tool walks your amortisation schedule month by month and finds where the balance crosses the loan-to-value thresholds at which PMI can be cancelled.

Pick a credit tier and the tool suggests a typical annual PMI rate for your loan-to-value band, which you can accept with one click or overwrite entirely. Both cancellation thresholds are editable too: 80% for a borrower request and 78% for automatic termination are the US defaults, but you should set whatever your loan documents say.

You will see the monthly premium, the payment with and without PMI, the estimated cancellation date and the total premiums paid along the way. Everything runs locally in your browser and no figures are uploaded. Estimates only, not financial advice.

Frequently asked questions

How is PMI calculated each month?

Take your outstanding loan balance, multiply it by the annual PMI rate, and divide by twelve. On a $200,000 balance at a 0.5% annual rate that is $1,000 a year, or about $83 a month. Because the balance falls over time, so does the premium.

When does PMI automatically go away?

Under the US Homeowners Protection Act, PMI must terminate automatically once the loan balance reaches 78% of the original property value on the original amortisation schedule, and you can request cancellation at 80%. Both thresholds are editable here because other countries and loan types work differently.

How can I get rid of PMI faster?

Paying extra principal moves you to the 80% threshold sooner, and if your home has appreciated you can often request cancellation early based on a new appraisal. Note that this calculator uses the scheduled balance against the original value, which is the legal basis for automatic termination.

What is a typical PMI rate?

Annual rates commonly run from about 0.2% for a large down payment and excellent credit to well over 1.5% for a small down payment and weaker credit. The suggested figures in this tool are illustrative starting points only — every mortgage insurer prices differently, so use the rate on your own Loan Estimate.

Does FHA mortgage insurance work the same way?

No. FHA loans use an up-front premium plus an annual MIP that, on most modern FHA loans with a small down payment, lasts the life of the loan rather than cancelling at 78%. This calculator models conventional PMI, so treat it as an approximation for other programs.

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