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PMI costs vary, but they typically range from 0.5% to 1% of the loan amount annually. So, for a $200,000 mortgage, your PMI could be $1,000 to $2,000 per year. That\u2019s in addition to your mortgage payment, homeowner\u2019s insurance, and property taxes.<\/span><\/p>\n If you have a low <\/span>credit score<\/span><\/a> or a high <\/span>loan-to-value ratio<\/span><\/a>, your costs could be even higher. Your loan-to-value ratio is the amount of your loan when compared to the value of your home. If you make a 5% down payment, your loan-to-value ratio is 95%, and you\u2019ll likely have a higher PMI payment than someone who makes a 10% down payment.<\/span><\/p>\n \u00bbLearn more: <\/i><\/b>Ready to see how much PMI could add to your monthly mortgage payment? Use the PMI Calculator to crunch the numbers in seconds and get a clearer picture of what you can comfortably afford.<\/span><\/i><\/p>\n