How to use it
- Enter the home price, the down payment (as a percent or in dollars), the interest rate and the term.
- Add property tax (a percent of the price or a yearly dollar amount from the county), the yearly homeowners insurance premium, HOA dues and, if you put down less than 20%, the PMI rate your lender quoted.
- Read the full monthly payment and its parts, when PMI ends, the total interest and the payoff date; add extra principal to see what it saves.
- Switch the schedule between years and months, or download it as a CSV file.
How it calculates
Principal and interest come from the site’s amortization engine, the same one behind the Loan Calculator: the standard fixed-rate payment rounded to the cent, each month’s interest charged on the remaining balance at the yearly rate divided by 12, worked in whole cents, with the last payment adjusted to end at zero. Property tax and insurance are added as a twelfth of the yearly amounts and HOA dues as entered.
PMI applies when the loan is more than 80% of the price, which the calculator uses as the home’s original value. It follows the cancellation rules the Consumer Financial Protection Bureau describes: PMI generally ends automatically on the date the balance is scheduled to reach 78% of the original value, so the calculator finds that date on the original schedule even when you add extra payments; and you may ask your servicer to cancel once the balance actually reaches 80%, which extra payments bring forward. Tick the box to see the payment if you make that request.
What we tested
On October 14, 2026 we compared the page’s own calculation with an independent Python model built on exact fractions for 1,504 home loans (1,148 of them with PMI; down payments from 0% to 50%, rates from 0% to 12%, terms from 10 to 30 years, with and without extra payments and early PMI cancellation). Every loan amount, payment part, total, PMI end date and PMI total agreed to the cent. The underlying schedule engine separately matched a Python reference on 2,007 loans and every row of their schedules. In Chromium: the default $400,000 home with 20% down at 6.5% showed $2,539.29 a month, $408,140.64 interest and no PMI; $350,000 with 5% down at 6.875% plus 1.2% tax, $1,500 insurance, 0.6% PMI and $50 HOA showed $2,875.54, with $166.25 of PMI for 140 payments, the 78% date at payment 140 and the 80% request date at payment 128; $300 a month extra with an early request cut PMI to 74 payments and the loan to 255 payments, and the downloaded CSV had 255 rows ending at a 0.00 balance; a down payment above the price showed a message; the page fitted a 390 px phone with no errors.
| Example | Principal & interest | PMI | Monthly total | Total interest |
|---|---|---|---|---|
| $400,000, 20% down, 6.5%, 30 years, tax 1.1%, insurance $1,800 | $2,022.62 | none | $2,539.29 | $408,140.64 |
| $350,000, 5% down, 6.875%, 30 years, PMI 0.6% | $2,184.29 | $166.25 for 140 months | $2,875.54 | $453,842.49 |
| Same, +$300 a month, cancel PMI at 80% | $2,184.29 | $166.25 for 74 months | $2,875.54 + $300 | $300,595.03 (255 payments) |
| $250,000, $25,000 down, 6.25%, 15 years, PMI 0.4% | $1,929.20 | $75.00 for 37 months | $2,404.20 | $122,256.38 |
This is an estimate for planning, not a loan offer or financial advice; your Loan Estimate shows the lender’s actual figures.
Sources
Checked on .
Frequently Asked Questions
Built by Derek Giordano · Part of Ultimate Design Tools