Conventional & PMI Calculator
Calculate your conventional loan payment with FICO-score-based PMI rates, see exactly when PMI cancels under the Homeowners Protection Act, and find out how much you'd save by improving your credit score before applying.
Get Started in 3 Steps
How to Use the Conventional & PMI Calculator
Enter Your Loan & Credit Details
Input purchase price, down payment, interest rate, loan term, and your FICO score range to pull the correct PMI rate tier.
See Your Full Monthly Payment
Review your P&I, monthly PMI cost, and optional taxes & insurance for a complete PITI picture.
Find Your PMI Cancellation Month
Check the amortization schedule to see exactly when your balance hits 80% LTV and PMI drops off your payment.
Conventional Loan & PMI Calculator
FICO-based · Occupancy-adjusted · Fannie Mae / Freddie Mac · 2025
PMI Details
Est. Monthly Payment
$2,933.99
Payment Breakdown
Loan Amt
$495,000
LTV
90.0%
PMI Rate
0.30%
Total PMI
$10,395
PMI Cancellation
Cancellable at month 84
7yr · 80% LTV balance
Saves
$123.75/mo
What is PMI and how much does it cost?
Private Mortgage Insurance (PMI) is required on conventional loans when your down payment is less than 20%. PMI rates range from 0.20% to 1.50% annually depending on your FICO score and loan-to-value ratio — on a $400,000 loan, that's $67 to $500 per month.
Best for: Conventional borrowers with less than 20% down who want to see exact PMI costs by credit score
How It Works
Understanding the Conventional & PMI Calculator
This calculator prices PMI using representative Fannie Mae and Freddie Mac BPMI rate grids across 8 FICO-score tiers and 4 LTV bands. It shows your exact monthly PMI cost, projects the month PMI cancels at 80% LTV under the Homeowners Protection Act, and quantifies how improving your credit score before closing could save you hundreds per month.
Worked example: You're purchasing a $475,000 home with 10% down ($47,500). Your loan is $427,500. With a 720 FICO, PMI is approximately 0.54% annually — $192/month added to your P&I. At 760+ FICO, PMI drops to roughly 0.30% — $107/month. That 40-point score improvement saves $85/month ($1,020/year) until PMI cancels in month 109 (about 9 years).
Pair this with the DTI Calculator to see how PMI affects your qualifying ratios, and with the FHA MIP Calculator to compare conventional PMI against FHA mortgage insurance for borrowers near the decision boundary.
Ready to apply?
Numbers look right? Explore our Conventional Loans page for eligibility details, rates, and next steps.
About This Calculator
What the Conventional & PMI Calculator is For
Conventional loans price Private Mortgage Insurance (PMI) by FICO score — a 760+ borrower pays dramatically less than a 680 borrower at the same LTV. This calculator uses representative Fannie Mae / Freddie Mac BPMI grids across 8 FICO tiers and 4 LTV bands to show your exact monthly PMI, project the month it cancels at 80% LTV, and quantify the savings from moving up one credit tier. Add property taxes and homeowners insurance to see your full PITI. The expandable PMI rate matrix puts every rate combination on one screen.
Common Use Cases
- Seeing how your FICO score affects PMI cost at any down payment
- Finding the month your PMI cancels under the Homeowners Protection Act
- Quantifying the savings from a credit score improvement before closing
Ready to turn numbers into a loan?
Common Questions
Conventional & PMI Calculator — Frequently Asked Questions
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From the Blog
Further Reading
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A real-world walkthrough of how to finance a representative 80-acre legacy ranch in Grass Valley, Nevada County — three to four residences across two APNs, a 16-stall barn with office, a 6-stall mare motel, covered and outdoor arenas, a covered round pen, hot walker, cutting arena, cattle squeeze, irrigated cross-fenced pastures, two ponds, an orchard, and a 4-bay metal shop. At a $3.95M price point this property sits above the Ranch Home Loans loan-amount ceiling and squarely in true Ag-loan territory. We compare what each product can actually fund: standard residential jumbo (functionally unworkable on multi-residence, multi-APN, dual-livestock-operation properties), Ranch Home Loans at its $2M ceiling (a layered piece, not a complete solution), and our in-house true Ag loan options at up to 70% LTV (the primary product on commercial-scale equestrian and cattle operations).
VineyardFinancing a 30-Acre Vineyard Estate in Grass Valley, California: Conventional vs. Ranch Home Loans vs. Ag Loans on a $2.29M Nevada County Wine Property
A real-world walkthrough of how to finance a 30-acre established vineyard estate in Grass Valley, Nevada County — 18 acres of producing vines planted in 2002, a Craftsman home, a six-suite office building, a 1,500 sq ft barn, a separately-metered tent building generating rental income, a 20,000-gallon Gunite pool with studio pool house, NID irrigation water, and AG zoning across three parcels. We compare the three viable loan products on the same property: Conforming Conventional vs. standard residential Jumbo, our Ranch Home Loans jumbo, and our true Ag loan options. The decision depends on whether the buyer is occupying the residence and farming at hobby scale, scaling commercial wine production under a use-permit-driven venue plan, or buying the property as an investment to rent out — each path leads to a different product.
EquestrianFinancing a 19-Acre Equestrian Estate in Lincoln, California: Conventional vs. Ranch Home Loans vs. Ag Loans on a $1.5M Sierra Foothills Horse Property
A real-world walkthrough of how to finance a 19.34-acre luxury equestrian estate in Lincoln, Placer County — five-stall barn, arena, round pen, NID-irrigated hay production, two wells, two septics, and barn-loft ADU potential. We compare the viable loan products on the same property: Conforming Conventional vs. standard residential Jumbo, our Ranch Home Loans jumbo, and our true Ag loan options. The 'right' answer isn't the cheapest rate — it's the structure that respects the acreage, the hay income, the improvements, and the buyer's plans for the loft above the barn. Here's how Sierra Foothills equestrian buyers actually navigate the financing decision.
All calculator results are estimates for informational purposes only and do not constitute a loan commitment or guarantee of any specific rate or terms. Actual loan terms will depend on creditworthiness, property type, and market conditions. Lumen Mortgage Corporation · NMLS #1498678 · Licensed in Oregon & California · 920 SW 6th Ave, Suite 1200, Portland, OR 97204.