See how your down payment affects your monthly payment and PMI costs
PMI Required
With less than 20% down, you'll pay Private Mortgage Insurance (PMI) until you reach 20% equity.
Private Mortgage Insurance (PMI) protects the lender if you default on your loan.
Good news: PMI can be removed depending on the type of loan you have once you reach 20% equity in your home through payments or appreciation!
Disclaimer: PMI calculations shown are assumptions for estimation purposes only. Actual PMI rates vary based on credit score, loan type, and lender requirements. Consult with a mortgage professional for accurate PMI costs.