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Mortgage Insurance (PMI) Calculator
Estimate your monthly PMI and when it will drop off.
Enter values to see your result
Frequently asked questions
When is PMI required?
On conventional loans when down payment is below 20% of home price (LTV > 80%). FHA loans use MIP instead, which often lasts the life of the loan.
How do I get rid of PMI?
It automatically cancels when loan balance hits 78% of original home value. You can request cancellation at 80% if payments are current. Home appreciation can also let you request early cancellation via a new appraisal.
Is PMI tax-deductible?
It was deductible in some years subject to income limits but this deduction has expired/expired-renewed multiple times. Check current IRS rules for the tax year.
Can I avoid PMI without 20% down?
Yes, with a piggyback loan (80/10/10), lender-paid PMI (rolled into rate), or VA loan (no PMI, eligible veterans only).