Calculate your private mortgage insurance cost and see when you can remove it. Our free 2026 calculator shows monthly PMI and removal timeline.
Calculate PMI$150/mo
Avg Monthly PMI
20%
Removal Threshold
5 yrs
Avg Time to Remove
22%
Mortgages with PMI
Private Mortgage Insurance (PMI) is insurance required by lenders when you make a down payment of less than 20% on a conventional loan. While PMI protects the lender—not you—if you default, it enables millions of Americans to become homeowners sooner.
According to the Mortgage Bankers Association, about 22% of all mortgages carry PMI. The Consumer Financial Protection Bureau (CFPB) notes that PMI costs typically range from 0.5% to 1.5% of the loan amount annually, adding $50-$300 to monthly payments.
The good news: The Homeowners Protection Act (HPA) gives you the right to cancel PMI once you reach 20% equity, and requires automatic termination at 78% LTV. Strategic extra payments or home appreciation can help you reach this threshold years earlier.
1.5%
97% LTV (3% down)
Annual rate
1.2%
95% LTV (5% down)
Annual rate
0.8%
90% LTV (10% down)
Annual rate
0.5%
85% LTV (15% down)
Annual rate
Credit Score Impact: Higher credit scores (760+) can reduce these rates by 25-50%. Low scores may pay 2x or more.
See your monthly PMI and timeline to removal.
Calculate PMI