Calculate the cost of Private Mortgage Insurance (PMI) when your down payment is less than 20%. See your monthly PMI amount, total PMI cost, and when you can request cancellation.
PMI is required when the loan-to-value (LTV) ratio exceeds 80%. The monthly PMI premium is calculated by multiplying the original loan amount by an annual PMI rate (typically 0.3% to 1.5% depending on credit score and LTV), then dividing by 12. PMI can be removed once the LTV reaches 78%.
Estimate your monthly mortgage payment and total interest cost.
Decide if refinancing your mortgage will save you money.
Determine whether renting or buying is the better financial choice for you.
Find the maximum home price within your budget.
Get an estimate of your total mortgage closing costs.
Save thousands by switching to biweekly mortgage payments.
