BLUE JEAN BROKER
Mortgage Strategy
Free Tool
PMI Reality Check Calculator
Find out what PMI actually costs you — and whether waiting to save 20% costs you even more.
1
The Home
Enter the home you're looking at — or a realistic estimate.
Target purchase price
$
What you have saved today
$
Current estimate (check bankrate.com)
%
Typically 0.5%–1.5% of loan/year
%
2
The Waiting Alternative
If you don't buy now, how long would it take to save 20% — and what happens to the market?
How much you can save per month toward a down payment
$
IL avg ~4%. National avg ~4–5%
%
Your PMI reality check is ready.
Enter your name and email to see the side-by-side comparison — PMI cost vs. cost of waiting — plus your equity timeline.
No spam. Your results will also be emailed to you for easy reference.
The Verdict
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$0
Monthly PMI cost
$0
Total PMI until 20% equity
$0
Est. appreciation while paying PMI
$0
Home price if you wait
$0
Extra you'd need to save to reach 20%
$0
Equity built in year 1 if you buy now
Buy Now with PMI vs. Wait to Save 20%
Buy Now
Wait to Save
Home price you pay
—
—
Down payment needed
—
—
Total PMI paid
—
$0
Equity at PMI drop-off
—
Just starting
Net cost difference
—
—
Your Equity Timeline
Today
20% equity
PMI starts dropping off at 20% equity
Year —
You can request PMI removal (reaches 80% LTV)
Year —
PMI auto-cancels by law (Homeowners Protection Act)
Year —
The Real Frame
PMI isn't a trap — it's a convenience fee to lock in today's price. And unlike rent, every mortgage payment is building equity. PMI is temporary. Ownership is permanent.
Want to run your actual pre-approval numbers?
Let's look at your full picture — payment, PMI timeline, and what it takes to get to the closing table.
Schedule a Free Strategy Call →