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PMI Calculator

PMI rates by credit score and loan-to-value — when it drops off.

PMI is required on conventional loans with down payments under 20%. Rates depend on credit score and LTV, ranging from ~0.5% to 1.5% of the loan annually. PMI automatically cancels at 78% LTV (federal Homeowners Protection Act of 1998). ValiFit shows annual PMI cost, monthly add to your payment, and the projected month PMI drops off based on amortization + appreciation.

See PMI for a specific loan

Inputs

  • Loan amount
  • Down payment %
  • Credit score
  • Home price

Outputs

  • Annual PMI
  • Monthly PMI
  • When PMI cancels (LTV 78% via federal HPA)
  • Total PMI paid before cancellation

Formula

Annual PMI = loan amount × rate (rate depends on credit + LTV tier). Monthly = annual ÷ 12. Cancels when LTV ≤ 78% via amortization or appraisal.

Federal Sources

ValiFit pulls these federal sources directly. We do not invent rates, fees, or limits — they come from the source agency.

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