How much is PMI per month?
| Loan amount | 0.5% PMI | 1.0% PMI |
|---|---|---|
| $200,000 | $83/mo | $167/mo |
| $300,000 | $125/mo | $250/mo |
| $400,000 | $167/mo | $333/mo |
How to get rid of PMI
- Make extra principal payments to reach 80% LTV sooner.
- Request a new appraisal if your home value has risen.
- Refinance once you have 20% equity.
- Wait for automatic termination at 78% of the original value.
Frequently asked questions
The federal deduction for mortgage insurance premiums has expired and been revived at times. Check current IRS rules or a tax professional.
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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.