Down Payment
$40,000
Loan Amount
$360,000
Monthly P&I
$2,275.44
PMI Cost
$225.00
for 109 months
Total Monthly
$2,500.44
| Down % | Down Payment | Loan Amount | Monthly P&I | PMI/mo | Total Monthly | Total Interest | Total Cost |
|---|---|---|---|---|---|---|---|
3% | $12,000 | $388,000 | $2,452.42 | $371.83 | $2,824.26 | $494,873 | $948,417 |
5% | $20,000 | $380,000 | $2,401.86 | $300.83 | $2,702.69 | $484,669 | $925,282 |
10%Selected | $40,000 | $360,000 | $2,275.44 | $225.00 | $2,500.44 | $459,160 | $883,685 |
15% | $60,000 | $340,000 | $2,149.03 | $155.83 | $2,304.86 | $433,651 | $845,339 |
20%No PMI | $80,000 | $320,000 | $2,022.62 | $0 | $2,022.62 | $408,142 | $808,142 |
With 10% down, you will pay PMI of $225.00/month for approximately 109 months until you reach 78% LTV.
Monthly PMI
$225.00
PMI Duration
9y 1m
Total PMI Cost
$24,525
PMI cost by down payment level:
3% down
$53,544
5% down
$40,613
10% down
$24,525
15% down
$11,688
| Down % | Amount Needed | Remaining to Save | Months | Years | Target Date |
|---|---|---|---|---|---|
| 3% | $12,000 | Ready! | 0 | 0 | Now |
| 5% | $20,000 | $5,000 | 4 | 0.3 | Jul 2026 |
| 10% | $40,000 | $25,000 | 17 | 1.4 | Aug 2027 |
| 15% | $60,000 | $45,000 | 30 | 2.5 | Sep 2028 |
| 20% | $80,000 | $65,000 | 44 | 3.7 | Nov 2029 |
Savings Progress
This calculator provides estimates for educational purposes only. Actual costs may vary based on lender, location, and credit profile. PMI rates are estimated and may differ from your actual rate. Consult a mortgage professional for precise figures.