PMI Calculator
PMI: a planned Super Calculator tool. Covers home value (currency) and loan amount (currency). Stub page while the tool and its worked example are prepared.
PMI Calculator is a planned calculator in the real estate section of Super Calculator, covering mortgage core.
What this calculator will compute
Inputs: home value (currency), loan amount (currency), credit score, annual PMI rate (%) and rate type (borrower paid or lender paid).
Outputs: monthly PMI (currency), total PMI paid to cancellation (currency), month PMI reaches 80% LTV and month of automatic termination at 78% LTV.
Formula, recorded as scope and not yet verified against a primary source: Monthly PMI = outstanding balance * annual PMI rate / 12, with the rate drawn from a grid of credit score by LTV. Under the Homeowners Protection Act the borrower may request cancellation at 80% of original value, the servicer must automatically terminate at 78% of original value, and coverage ends at the midpoint of the amortization schedule regardless of LTV.
Status
This page is a stub. The calculator is not built, no figure on this page has been verified against the authority that sets it, and nothing here should be used to make a decision. The page exists so that the site structure is complete and so that articles can link this concept on first mention.
The stub carries noindex, nofollow and is excluded from the sitemap.