Mortgage insurance or private mortgage insurance (PMI) is common with many mortgages and is paid by the homeowner. It protects your lender in the event that you’re unable to make your monthly payments. By increasing your down payment amount, you can reduce your PMI costs and pay less each month. Use this calculator to see how this could work for you.
This calculator is for general education purposes only and is not an illustration of current Navy Federal products and offers.