PMI Cost on a $300K House (2026 Guide)

Calculate how much PMI will cost on a $300,000 house. Understand the factors that affect PMI rates and how to avoid paying PMI.

PMI Cost Calculator

Home Price

Down Payment

Credit Score

Loan Term (years)

Monthly PMI Cost

$157.50

Loan-to-Value (LTV)90.0%

PMI Rate0.70%/year

Annual PMI Cost$1,890

Months to 20% Equity273 months

PMI Cost Examples for $300K House

5% Down ($15K)

LTV: 95%

$250.00/mo

10% Down ($30K)

LTV: 90%

$200.00/mo

15% Down ($45K)

LTV: 85%

$125.00/mo

How to Avoid PMI on a $300K House

Save for 20% Down

Save $60,000 for a 20% down payment on a $300,000 house to avoid PMI entirely.

Use a Piggyback Loan

Combine an 80% first mortgage with a 10% second mortgage to put down only 10% without PMI.

PMI Cost on $300K House by Down Payment (2026)

As of 2026, here's how PMI varies on a $300,000 house based on down payment and credit score:

Down Payment	Loan Amount	LTV	PMI (720+ Credit)	PMI (680 Credit)	Years to Remove
20% ($60,000)	$240,000	80%	$0.00	$0.00	N/A
15% ($45,000)	$255,000	85%	$106.00	$170.00	~3.5 years
10% ($30,000)	$270,000	90%	$169.00	$270.00	~6.5 years
5% ($15,000)	$285,000	95%	$237.00	$356.00	~9.5 years
3% ($9,000)	$291,000	97%	$291.00	$437.00	~11+ years

Key Insight: On a $300K house, the difference between 5% and 20% down is $45,000 upfront but saves $237-$356/month in PMI. A borrower with 680 credit pays roughly 50% more in PMI than one with 740+ credit for the same loan.

Frequently Asked Questions

How much is PMI on a $300k house in 2026?

As of 2026, PMI on a $300,000 house typically costs between $125 and $375 per month, depending on the down payment, credit score, and loan term.

What is the PMI rate for a $300k loan?

PMI rates typically range from 0.5% to 1.5% of the loan amount annually. For a $300k loan, that's $1,500 to $4,500 per year, or $125 to $375 per month.

How much down payment do I need to avoid PMI on a $300k house?

You need a 20% down payment to avoid PMI. For a $300,000 house, that would be $60,000. This brings your LTV to 80%, eliminating PMI requirement.

How long do I pay PMI on a $300k house?

PMI is automatically removed when your loan-to-value ratio reaches 78% based on the original purchase price. This typically takes 5-10 years with regular payments.

Can I cancel PMI early on a $300k loan?

Yes, you can request PMI cancellation once you have 20% equity in your home. Most lenders allow cancellation at 80% LTV with proper documentation.

What is the PMI cost with 10% down on $300k?

With 10% down ($30,000) on a $300k house, LTV is 90%. PMI rate is typically 0.8%, which equals $200 per month ($300,000 × 0.8% ÷ 12).

What is the PMI cost with 5% down on $300k?

With 5% down ($15,000) on a $300k house, LTV is 95%. PMI rate is typically 1.0%, which equals $250 per month ($300,000 × 1.0% ÷ 12).

How much can I save by putting 20% down on $300k?

By putting 20% down ($60,000), you avoid PMI entirely. At a 0.8% PMI rate, you would save $200/month or $2,400/year compared to 10% down.

Does credit score affect PMI on $300k house?

Yes. With a 740+ score, you might pay 0.5% PMI ($125/month), while a 620 score could cost 1.25% PMI ($312/month) on a $300k loan.

Is PMI tax deductible on a $300k house?

PMI may be tax deductible if your income is below $109,000 (2026 limit). For a $300k loan with $200/month PMI, that's $2,400 potentially deductible annually.

Can I roll PMI into my mortgage on $300k house?

No, PMI is paid monthly. However, you can consider lender-paid PMI which is rolled into a higher interest rate instead of monthly payments.

What happens to PMI if I refinance my $300k loan?

If you refinance and still have less than 20% equity, PMI will continue. If you have 20%+ equity, the new loan won't require PMI.

Always consult with a qualified mortgage professional to get accurate PMI quotes for your specific situation.