PMI Calculator by Credit Score and Down Payment
Private mortgage insurance cost depends on three inputs: your credit score, the loan-to-value ratio set by your down payment, and the loan amount. Borrowers with higher scores and larger down payments pay substantially less. The gap between cheapest and most expensive tiers can reach several hundred dollars monthly. Enter your details above to see where you fall.
Your loan and value
—
month 0, when the balance reaches 80% of the original price
- Starting loan-to-value
- 0%
- Monthly principal & interest
- $0.00
- Servicer must cancel (78%)
- —
- Midpoint backstop
- —
- Extra payments pull it forward
- —
Cancellation at 80% is a request you must make in writing and the servicer can require proof of value and a clean payment record. Termination at 78% is automatic. Both are set by the Homeowners Protection Act, cited below.
How Credit Score Drives PMI Pricing
PMI insurers use credit-score bands to set annual premium rates as a percentage of the original loan amount. A borrower with a score above 760 putting 10 percent down may pay roughly 0.30 percent annually, while someone at 680 with the same down payment could face 0.65 percent or higher. On a $300,000 loan, that is the difference between approximately $75 and $163 per month — $1,050 per year in extra cost for the lower score.
These are not linear scales. The biggest jumps tend to occur between the 680-699 and 700-719 bands, where insurers price in sharply higher default risk. If your score sits just below a band threshold, even a modest improvement of 10 to 20 points before applying can produce meaningful PMI savings that persist for years until cancellation.
Because PMI pricing varies among insurers, the calculator uses the rate you enter rather than assuming a fixed schedule. This lets you compare quotes from different providers directly.
Down Payment as a PMI Lever
The less you put down, the more PMI costs — both in rate and duration. A 5 percent down payment produces a 95 percent LTV, placing you in the highest PMI tier and the longest runway to the 80 percent cancellation threshold. Moving to 10 percent down cuts the LTV to 90, lowers the PMI rate, and shaves years off the removal timeline.
At 15 percent down, PMI rates drop further still, and the loan reaches 80 percent LTV after relatively modest principal reduction. At 20 percent down, PMI disappears entirely — no premium, no cancellation request, no appraisal.
The trade-off is opportunity cost: cash locked in a down payment cannot earn returns elsewhere. Use the PITI calculator with PMI and HOA to see how different down-payment levels affect your total monthly obligation, then weigh that against your reserves, emergency fund, and other financial goals before choosing a number.
PMI rates vary by insurer and programme. The calculator reflects the premium rate you enter, not a standardised schedule.