Calculate your Private Mortgage Insurance cost, see exactly when it drops off, and find out how much you'll pay in total — with a full amortization table showing equity growth.
PMI is required when down payment is less than 20% of home value
PMI typically ranges 0.5%–2% of the original loan amount annually
Typical range: 0.5% – 2.0% depending on credit score & LTV
Appreciation builds equity faster → earlier PMI cancellation
Paying extra principal accelerates PMI removal
Showing when LTV drops below threshold and PMI is removed
Monthly PMI
Monthly P&I
Total Monthly
PMI Drops Off
Total PMI Paid
Current LTV
| Down % | Down $ | LTV | Monthly PMI | PMI Off (mo) | Total PMI |
|---|
Request Cancellation at 80% LTV
Under the Homeowners Protection Act (HOPA), you have the right to request PMI cancellation when your LTV reaches 80% based on original purchase price. Send a written request to your servicer once you reach this milestone.
Pay Extra Principal
Every extra dollar of principal payment directly builds equity. Even $100–200/month extra can remove PMI 2–5 years early, saving thousands. Use the Extra Monthly Principal input above to see your specific savings.
Refinance or Get an Appraisal
If your home has appreciated significantly, you may qualify to remove PMI through a new appraisal even if you haven't paid down to 80% yet. A lender-ordered appraisal (typically $300–600) can pay for itself within months of PMI savings.