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PMI Calculator or the pmi removal calculator is used to calculate the monthly PMI payment for your mortgage. Find out when your PMI will be payoff with our private mortgage insurance calculator.
Generally, banks require borrowers to pay for PMI when the borrowers put down less than 20% in down payment or when loan-to-value (LTV) is greater than 80%. The PMI rate is usually about 0.3 percent to about 1.5 percent of the original loan amount per year depends on your credit score and other factors. Simply enter the home value, mortgage amount, and the yearly PMI rate, and the PMI payoff calculator will get an estimated monthly PMI payment for you. The PMI Cost Calculator will calculate the payoff date for your private mortgage insurance, and you will also get a total amount of PMI that you paid over the years.
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