Mortgage Calculator with PMI – Estimate Your Monthly Payment

Get a fast and accurate breakdown of your monthly mortgage payment, including principal, interest, taxes, homeowners insurance, and mortgage insurance (PMI or MI).

Buying a home in Alaska? Use our all-in-one mortgage calculator with PMI to estimate your total monthly payment. Whether you're applying for a conventional loan, FHA, or another type of mortgage, this calculator helps you understand the full monthly cost—including principal, interest, taxes, homeowners insurance, and private mortgage insurance (PMI) or mortgage insurance (MI). For even more accurate local numbers…

  • Use 0.4% for estimating Homeowners Insurance for either of the mortgage types.

  • Use 1.5% for estimating Property Taxes in Anchorage, Eagle River, Chugiak, Alaska.

  • Use 1.2% for estimating Property Taxes in Wasilla or Palmer, Alaska.

Note: Mortgage calculators are a great starting point—but they’re just the beginning. With so many loan types and payment options out there, it’s easy to feel overwhelmed or unsure what’s best.

💬 Let’s simplify it. Schedule a quick call to explore your best-fit mortgage options, customized to your goals and financial picture.
You may be surprised what’s possible. You may contact us by emailing us or schedule a calendar appt.

💬 Common Questions About Mortgage Insurance & Monthly Payments (FAQ):

  • Absolutely! Use the buttons at the top of the calculator to switch loan programs. Our calculator is built to provide realistic monthly mortgage payment estimates for:

    • FHA loans, including upfront MI and monthly MI

    • USDA loans, including upfront and annual guarantee fees

    • VA loans, with the VA funding fee factored in (no monthly MI required)

    • Conventional loans, with or without PMI

    No matter which loan type you’re exploring, you’ll get a comprehensive snapshot of your total estimated monthly cost, including principal, interest, taxes, homeowners insurance, and mortgage insurance.

  • Private Mortgage Insurance (PMI) or Mortgage Insurance (MI) is typically required when your down payment is less than 20%. It’s designed to protect the lender, not the borrower, in case of loan default.

    Each loan program treats mortgage insurance differently:

    • Conventional loans usually require PMI until you reach 20% equity.

    • FHA loans include both upfront and monthly MI, which often lasts for the life of the loan.

    • USDA loans also include upfront and monthly guarantee fees, which function similarly to MI.

    • VA loans are the exception—they don’t require monthly mortgage insurance but do include a one-time VA funding fee (which is similar to upfront MI).

    Our mortgage calculator with PMI automatically includes mortgage insurance estimates so you can see a more accurate monthly payment for FHA, VA, USDA, and Conventional loans.

  • Yes, but it depends on your loan type:

    • Conventional loans: PMI can usually be removed once you reach 20% equity, either through regular payments or a new appraisal. This can significantly lower your monthly mortgage payment. If you have duplex, triplex, fourplex, you would have to wait until 70% LTV to cancel MI. Additional guidelines may apply.

    • FHA and USDA loans: Mortgage insurance typically lasts for the life of the loan. You’d need to refinance into a conventional loan to eliminate MI.

    • VA loans: No monthly mortgage insurance is required, so there’s nothing to remove.

    Always check with your lender for the exact guidelines based on your loan and equity position and your property type.