PMI Cancellation Calculator
PMI cancellation on conventional loans is arithmetic against original value — the lesser of purchase price and original appraised value. This preset uses $300,000 purchase, $295,000 appraised, $270,000 principal at 5.875% over 30 years.
The summary shows both milestone months side by side so you can see request vs automatic paths. Schedule rows around each milestone list month, balance, and LTV. Paying ahead moves the 80% request date only.
Some servicers cancel earlier based on a new appraisal showing appreciation — that path is described in the output but never dated here because investor rules vary. Controls below customize paper size and loan figures. 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): $295,000.00
80% cancellation request: Month 97 — actual balance, extras count
78% automatic termination: Month 110 — scheduled balance, extras ignored
Midpoint backstop: Month 180 (original 30-year term)
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 |
|---|---|---|---|
| 95 | $236,805.37 | 80.27% | |
| 96 | $236,367.58 | 80.12% | |
| 97 | $235,927.65 | 79.98% | 80% request (actual balance, extras count) |
| 98 | $235,485.56 | 79.83% | |
| 99 | $235,041.31 | 79.68% | |
| 108 | $230,943.89 | 78.29% | |
| 109 | $230,477.40 | 78.13% | |
| 110 | $230,008.63 | 77.97% | 78% automatic (scheduled balance, extras ignored) |
| 111 | $229,537.56 | 77.81% | |
| 112 | $229,064.19 | 77.65% |
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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