PMI Calculator
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Understanding PMI
Key points about Private Mortgage Insurance:
- Required when down payment is less than 20%
- Can be removed at 80% LTV ratio
- Automatically terminates at 78% LTV
- Extra payments can help remove PMI faster
- Home appreciation contributes to equity build-up
Note: This calculator provides estimates based on typical PMI rates and home appreciation. Actual PMI costs and removal timeline may vary based on lender requirements and market conditions. Consult with your lender for specific details about your PMI terms.