PMI Calculator: How Much Is Private Mortgage Insurance?
Estimate your monthly PMI from your down payment and credit score, plus the month your lender must cancel it under the Homeowners Protection Act.
Reviewed by Guido Trevisan, Licensed Property & Casualty Insurance BrokerUpdated July 20, 2026
Rates reflect the standard industry rate card for a 30 year fixed conventional loan with agency coverage levels. Your quoted rate can differ.
Estimated PMI
$84
per month
- Annual PMI
- $1,008
- PMI rate
- 0.28%
- Loan to value
- 90.0%
- Total PMI until auto cancel
- $9,156
- Request cancellation at 80% LTV
- after about 7 yr 11 mo
- Automatic termination at 78% LTV
- after about 9 yr 1 mo
Monthly PMI by credit score
Same loan and down payment, each credit tier
Estimates use the last published industry rate card for borrower paid monthly PMI on a 30 year fixed conventional loan. Actual quotes vary by insurer, coverage level, loan type, and underwriting. Not a quote or an offer of coverage.
How PMI is calculated
PMI is priced as an annual percentage of your original loan amount, set by your loan to value band and credit score tier. Monthly PMI is that rate times the loan, divided by 12. Under the federal Homeowners Protection Act you can request cancellation once your balance is scheduled to reach 80% of the original home value, and your lender must terminate PMI automatically at 78%, or at the loan midpoint at the latest.
FAQ
How much is PMI on a $300,000 loan?
At typical rates of 0.38% to 1.42% for a 10% down payment, PMI on a $300,000 loan runs about $95 to $355 per month depending on your credit score. Stronger credit means a lower rate.
How can I avoid paying PMI?
Put 20% or more down, use a lender paid PMI loan with a higher rate, or pair an 80% first mortgage with a second loan. Once you are close to 20% equity, you can also request early cancellation.
When does PMI go away automatically?
Your lender must terminate PMI on the date your balance is scheduled to hit 78% of the original home value, and no later than the loan midpoint, as long as you are current on payments.
Is PMI tax deductible?
Not currently. The federal PMI deduction expired after the 2021 tax year and has not been renewed.
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