PMI Options
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Total Home Cost$435,000.00
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20% Value (GOAL)$87,000.00
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Delta to 20%$43,500.00
<< Change to show the amount needed to hit 20%
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Monthly PMI Payment
$111.00
<< Change to show your monthly pmi payment
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No AdditionalOption 1Option 2Option 3Option 4Option 5Option 6Net Zero
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Set monthly payment
$2,902.00$2,902.00$2,902.00$2,902.00$2,902.00$2,902.00$2,902.00$2,902.00
<< Change to reflect your total required monthly payment. I used mortgage + PMI + HOA + insurance + property taxes
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Monthly principle$551.00$651.00$801.00$1,051.00$1,301.00$1,551.00$2,051.00$907.27
<< Change to show what portion of monthly payment goes directly towards principle (ask your lender!)
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Additional principle
$0.00$100.00$250.00$500.00$750.00$1,000.00$1,500.00$356.27
<< Play with these numbers - how much more can you put towards your principle? See how it changes the total PMI payment below
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Total monthly payment
$2,902.00$3,002.00$3,152.00$3,402.00$3,652.00$3,902.00$4,402.00$3,258.27
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No. months to 20%78.9473684266.820276554.307116141.3891531933.435818628.0464216621.2091662647.95
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No. years to 20%6.5789473685.5683563754.5255930093.4490960992.7863182172.3372018051.7674305224.00
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Total PMI Paid$8,763.16$7,417.05$6,028.09$4,594.20$3,711.38$3,113.15$2,354.22$5,322.00
<< How do these options compare to the cost of paying PMI up front?
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^^ Cost of paying PMI up front
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