PMI Removal Calculator vs PMI Calculator
Two calculators for the same neighbourhood of questions. Here is what each measures, what you feed in, and where you'd reach for one over the other.
PMI Removal Calculator
Find out when your loan-to-value ratio will drop below 80% (or 78% for automatic cancellation) so you can stop paying private mortgage insurance. Use this to plan a timeline or decide whether to make a lump-sum payment to accelerate PMI removal.
- Answers
- Months Until PMI Removal (months)
- Inputs
- Original Home Value, Current Loan Balance, Interest Rate, Annual Home Appreciation Rate, PMI Removal Method
PMI Calculator
Estimate your monthly private mortgage insurance payment based on your loan amount and PMI rate. Use this when your down payment is less than 20% of the home price and your lender requires PMI.
- Answers
- Monthly PMI Cost ($)
- Inputs
- Loan Amount, PMI Rate
At a glance
| PMI Removal Calculator | PMI Calculator | |
|---|---|---|
| Category | Mortgage Advanced | Real Estate |
| Answers | Months Until PMI Removal | Monthly PMI Cost |
| Inputs | 5 | 2 |
| Result unit | months | $ |
When to use each
Find out when your loan-to-value ratio will drop below 80% (or 78% for automatic cancellation) so you can stop paying private mortgage insurance. Use this to plan a timeline or decide whether to make a lump-sum payment to accelerate PMI removal.
Estimate your monthly private mortgage insurance payment based on your loan amount and PMI rate. Use this when your down payment is less than 20% of the home price and your lender requires PMI.