How to use it
- Enter the house price.
- Enter your down payment.
- Enter the annual PMI rate as a whole percent.
- View your monthly PMI cost instantly.
How Much Will My PMI Be Calculator lets you instantly see the monthly private mortgage insurance (PMI) you’ll owe based on your purchase price, down payment, and the lender’s annual PMI rate. Knowing this cost up front helps you compare loan offers, budget accurately, and decide if a larger down payment or a different loan program saves you money. The tool subtracts your down payment from the house price to get the loan amount, applies the annual PMI percent, and divides by 12 to give a clear monthly figure. No hidden fees or assumptions are added, so the result reflects the pure PMI charge you can expect each month. Use it when you’re shopping for a home, refinancing, or just checking how a change in down payment impacts your monthly budget. The result appears instantly, so you can experiment with different numbers without any calculators or spreadsheets.
Pro tips
- Round your down payment to the nearest $100 to keep the loan amount clean.
- Enter the PMI rate as a whole number (e.g., 1 for 1%).
- If you have a large down payment, the monthly PMI may drop to zero – try different amounts.
- Double‑check that the house price includes any fees you’re financing, not just the base price.
Real-life examples
- First‑time buyer comparing two loan offers with different down payments.
- Homeowner refinancing and wanting to know if PMI will disappear with a higher equity level.
- Real‑estate investor estimating monthly cash flow for a rental property.
Case study
Sarah was eyeing a $350,000 home with a 5% down payment. Using the calculator she saw her monthly PMI would be $145, prompting her to increase her down payment to 10%, which cut the PMI to $0 and saved her $1,740 annually.