Estimates only. This calculator is for planning purposes only. Actual monthly payments, interest rates, PMI rates, and loan terms vary by lender, credit score, and loan program.
PMI is estimated at 0.85% of the loan amount annually. Actual PMI rates typically range from 0.5% to 1.5% depending on your credit profile and lender.
Many loan programs eliminate PMI entirely, including: VA loans (0% down, no PMI ever), USDA loans (0% down, no PMI), 80/10/10 piggyback loans, lender-paid PMI programs (LPMI), and certain first-time buyer programs offered through the Pennsylvania Housing Finance Agency (PHFA). Contact your lender to determine which programs you may qualify for.
This calculator does not account for FHA Mortgage Insurance Premium (MIP), which applies to FHA loans and works differently from conventional PMI.
Consult a licensed mortgage professional for a personalized quote. All information deemed reliable but not guaranteed.
