PMI on a $400,000 Home with 5% Down
With a $400,000 home and 5% down, your monthly PMI could be approximately $158.33 at a 0.5% annual PMI rate.
How to use this tool
- Enter the home price.
- Enter your down-payment percentage.
- Enter the annual PMI rate (often 0.3%–1.5%).
- Read the monthly and annual PMI.
- Check the LTV — at 80% or below, PMI drops to $0.
See how much PMI you'll pay each month on a $400,000 home purchase with just 5% down.
Frequently asked questions
- How much is PMI per month?
- PMI typically costs 0.3%–1.5% of the loan per year, split into monthly payments. On a $270,000 loan at 0.5%, that is $1,350 a year or about $112.50 a month. Your exact rate depends on credit score and loan-to-value.
- When do I have to pay PMI?
- Conventional loans require PMI when your down payment is below 20% (loan-to-value above 80%). At 20% down or more, no PMI is charged. FHA loans use a separate mortgage insurance premium that follows different rules.
- How do I get rid of PMI?
- You can request cancellation once your loan balance reaches 80% of the original value, and your servicer must automatically remove it at 78%. Paying down principal or refinancing after the home appreciates can also eliminate it.