When can I remove PMI?

By federal law (Homeowners Protection Act), PMI is automatically canceled when your LTV reaches 78%. You can request removal at 80% LTV. Send a written request to your servicer with proof of current home value.

How much does PMI cost per month?

PMI typically costs 0.5–1.5% of the loan amount per year. On a $250,000 loan, that's $1,250–$3,750/year or $104–$313/month.

PMI Calculator

Quick answer: Enter home price, down payment, and mortgage rate to calculate PMI cost and removal timeline.

Calculate your monthly PMI (Private Mortgage Insurance) payment and see exactly when your loan-to-value ratio drops to 80% — the point where you can request PMI removal. PMI protects the lender (not you) and typically costs 0.5–1.5% of the loan amount annually.

Last reviewed: April 2026Report an error

Home Price ($)

Down Payment (10%)

10% = $30,000.00

Mortgage Rate (%)

Loan Term

Monthly PMI

$191.25

PMI: $191.25/mo ($2,295.00/yr). LTV: 90.0%. Removed in ~101 months.

LTV Ratio

90.0%

Monthly PMI

$191.25

Payment + PMI

$1,987.57

PMI Removal

~101 months

How to Use This PMI Calculator

1Enter the home price.
2Enter your down payment percentage.
3Enter your mortgage rate and loan term.
4Read monthly PMI, total cost, and months until PMI can be removed.

Frequently Asked Questions

: By federal law (Homeowners Protection Act), PMI is automatically canceled when your LTV reaches 78%. You can request removal at 80% LTV. Send a written request to your servicer with proof of current home value.
: PMI typically costs 0.5–1.5% of the loan amount per year. On a $250,000 loan, that's $1,250–$3,750/year or $104–$313/month.

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