How to use it
- Enter the loan amount in dollars.
- Enter the property value in dollars.
- View the annual PMI % and monthly PMI % results instantly.
What it does – The PMI Calculator takes your loan amount and the property’s value, then instantly shows the annual PMI as a percentage and breaks it down to a monthly figure. Why it matters – PMI adds to your housing cost; knowing the exact rate helps you compare loan offers, decide on a larger down‑payment, or plan for removal. How to read – The annual PMI % tells you the yearly cost relative to the loan; divide by 12 (the tool does this) to see the monthly impact on your budget. No hidden steps, just clear numbers you can use to negotiate or budget. You can also input different loan scenarios to see how a higher down‑payment lowers the PMI percentage. The calculator works on any device, no download required. Keep your numbers handy and let the tool do the math while you focus on the bigger financial picture.
Pro tips
- Round loan and property values to the nearest hundred for a quick estimate.
- If your loan-to-value ratio is below 80%, PMI may be zero—still run the calculator to confirm.
- Enter the exact purchase price, not the appraised value, for the most accurate PMI.
- Compare results side‑by‑side with different down‑payment amounts to see the cost savings.
Real-life examples
- First‑time homebuyer evaluating whether to put 10% or 20% down.
- Refinance planner checking how much PMI will drop after principal payments.
- Real estate investor comparing loan offers on a rental property.
Case study
Sarah was paying 0.8% annual PMI on a $180,000 loan for a $225,000 house. Using the calculator she saw that adding $15,000 to her down‑payment cut the annual PMI to 0.4%, saving $720 a year. She adjusted her budget and eliminated PMI within two years.