Conventional PMI Drop-Off Date
Conventional PMI drop-off is not one date — it is two milestones plus a midpoint backstop. Automatic termination at 78% LTV on the scheduled balance; borrower-requested cancellation at 80% LTV on actual balance. If the loan never reaches 78% on schedule, the midpoint of the original term is the final termination backstop.
This A4 preset: $500,000 purchase, $480,000 appraised, $450,000 loan at 7.0% with $100 extra monthly. Original value $480,000 governs both thresholds.
FHA and VA selections explain why HPA rules do not apply — FHA MIP can last life-of-loan or 11 years depending on down payment; VA has no monthly MI. Controls below customize your scenario. Not financial advice.
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Scope
Scope: private mortgage insurance on conventional loans, US, single-family primary residence, under the Homeowners Protection Act (HPA). FHA and VA loans follow different rules — see loan type selector.
Original value (lesser of purchase price and appraised value): $480,000.00
80% cancellation request: Month 104 — actual balance, extras count
78% automatic termination: Month 136 — scheduled balance, extras ignored
Midpoint backstop: Month 180 (original 30-year term)
Extra payments move the 80% request date but not the 78% automatic date.
Some servicers cancel PMI earlier when a new appraisal shows appreciation or improvements. That is not an HPA right — investor guidelines vary, seasoning applies, and you pay for the appraisal. This tool does not put a date on that path.
This is an estimate for planning, not financial advice.
Schedule rows around milestones
| Month | Balance | LTV | Milestone |
|---|---|---|---|
| 102 | $384,903.50 | 80.19% | |
| 103 | $384,054.91 | 80.01% | |
| 104 | $383,201.37 | 79.83% | 80% request (actual balance, extras count) |
| 105 | $382,342.85 | 79.65% | |
| 106 | $381,479.32 | 79.47% | |
| 134 | $375,375.16 | 78.20% | |
| 135 | $374,570.99 | 78.04% | |
| 136 | $373,762.13 | 77.87% | 78% automatic (scheduled balance, extras ignored) |
| 137 | $372,948.55 | 77.70% | |
| 138 | $372,130.22 | 77.53% |
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Cancellation request checklist
- Written cancellation request to your servicer (certified mail recommended)
- Proof of good payment history on the loan
- Evidence the property has not declined in value (servicer may require an appraisal at your cost)
- Confirmation there is no subordinate lien on the property
- Loan number, property address, and contact information in the letter