Skip to content
Calculators ▾

Conventional loan & PMI calculator

See your conventional mortgage payment, when PMI can be cancelled (80%) and when it ends automatically (78%), and whether your loan fits the 2026 conforming limit.

Home price
Down payment$45,000
%
Interest rateAPR, fixed
%
Loan term
PMI ratetypically 0.3–1.5% by credit score
% / yr

Monthly payment

$3,358.07

Conforming loan · $405,000

  • Principal & interest$2,626.82
  • PMI$168.75
  • Property tax$412.50
  • Home insurance$150.00

PMI can be cancelled on request around month 98 (80% of the original value) and must end by month 112 (78%). Extra payments get you there sooner.

PMI can be cancelled
Year 9, month 2
PMI ends automatically
Year 10, month 4
Payment after PMI
$3,189.32
Total PMI paid
$18,900
Monthly payment$3,358.07

Ask Numlight

Ask in plain English. Every number comes from our tested calculators.

Educational only, not financial advice. Your question is processed by our AI provider; please don't include personal details.

2026 conforming loan limits (one-unit homes)

Most US counties
$832,750
High-cost ceiling
$1,249,125
AK, HI, Guam, USVI ceiling
$1,873,675

Source: FHFA — Conforming Loan Limit Values for 2026.

Assumptions

  • Fixed interest rate for the full term.
  • Property tax, insurance and HOA stay constant (in reality they usually rise over time).
  • PMI applies only when the loan is over 80% of the home price, and stops once the balance reaches 78% of the original price.
  • Extra payments go entirely to principal.
  • PMI rates vary by credit score and down payment; enter the rate from your Loan Estimate if you have one.
  • Conforming limit: $832,750 for one-unit homes in most US counties (up to $1,249,125 in high-cost areas).

Frequently asked questions

What is the conforming loan limit for 2026?+

$832,750 for a one-unit home in most of the US, up to $1,249,125 in high-cost counties. In Alaska, Hawaii, Guam and the US Virgin Islands the baseline is $1,249,125 and the ceiling $1,873,675. Larger loans are jumbo loans.

When does PMI go away on a conventional loan?+

You can ask your lender to cancel PMI once your balance reaches 80% of the home's original value (with a good payment history), and it must end automatically when the balance is scheduled to reach 78%. The calculator shows both months.

How much is PMI?+

Usually about 0.3% to 1.5% of the loan per year, depending mostly on your credit score and down payment. Borrowers with 760+ scores and 10–15% down tend to be near the low end.

What's the minimum down payment for a conventional loan?+

3% for first-time buyer programs such as Fannie Mae HomeReady and Freddie Mac Home Possible (income limits apply), and typically 5% otherwise. Jumbo loans often need 10–20%.

Conventional or FHA?+

With a credit score around 680+ and 5%+ down, conventional is usually cheaper over time because PMI ends; FHA mortgage insurance lasts the life of the loan with under 10% down. Compare both with our FHA calculator.

Related calculators

Mortgage calculatorWhat will my monthly mortgage payment be? Home affordability calculatorHow much house can I afford? Mortgage payoff calculatorHow much sooner can I pay off my mortgage? Mortgage refinance calculatorShould I refinance my mortgage? VA loan calculatorVA loan payment with the funding fee FHA loan calculatorFHA loan payment with mortgage insurance

Uses 2026 rules and limits. Last reviewed October 15, 2026. Calculator version 1.0.0. Sources: FHFA — Conforming Loan Limit Values for 2026. Results are estimates for educational purposes, not financial, tax or lending advice. How we check our numbers.