PMI removal calculator
The CFPB says you have the right to ask your servicer to cancel PMI when your principal balance is scheduled to fall to 80% of the home’s original value, and the Homeowners Protection Act requires automatic termination when the balance is first scheduled to reach 78% of the original value if the borrower is current. Experian and Chase describe the same two thresholds and note that lenders may require a good payment history, no junior liens, and sometimes an appraisal for borrower-requested cancellation.
PMI milestone estimate
Monthly principal & interest
$0
Monthly PMI
$0
Current starting LTV
0%
Request removal at 80% LTV
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Auto terminate at 78% LTV
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PMI saved by extra payment
$0
Removal rules
| Rule | Meaning |
|---|---|
| 80% LTV request point | You can request PMI cancellation in writing once the scheduled principal balance reaches 80% of the original home value, assuming you meet servicer requirements. |
| 78% LTV automatic end | Under federal law, PMI must automatically terminate when the scheduled principal balance first reaches 78% of original value if you are current on payments. |
| Midpoint fallback | The law also requires PMI to end at the midpoint of the amortization period in some cases, even if the 78% threshold has not been reached. |