Estimate your monthly PMI based on your loan-to-value (LTV), credit tier, and loan term. See when you can request PMI cancellation at 80% LTV and when it may be automatically terminated at 78%. Use the sliders/fields below to model your scenario.

How PMI Works

Private Mortgage Insurance (PMI) is typically required on conventional loans with LTV above 80% (less than 20% down). PMI protects the lender, not the borrower, but it lets buyers qualify with a smaller down payment.

• PMI amount depends on: LTV, credit score tier, and term.
• Cancel at 80% LTV: You can usually request removal once your balance reaches 80% of the original value.
• Automatic at 78% LTV: Servicers typically terminate PMI automatically when you reach 78%, if you’re current.

Disclaimer: This is an educational estimate. Actual PMI pricing and cancellation rules may vary by lender, insurer, and loan program. Confirm details with your lender/servicer.