When Can I Remove PMI
When PMI comes off depends on which path applies. At 80% loan-to-value you may request cancellation in writing — that date uses your actual balance, so a $200 extra monthly payment in this example moves the request month earlier. At 78% LTV the servicer must drop PMI automatically on the original schedule if payments are current — extra payments do not change that month.
This preset models $350,000 purchase and appraised value, $315,000 loan at 6.25% with $200 extra per month. The midpoint of the original term is a backstop if 78% is never reached on schedule.
Controls below adjust balance, rate, extras, and loan type. Current estimated value is copy-only for the separate appraisal path — it never changes the computed milestones. 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): $350,000.00
80% cancellation request: Month 60 — actual balance, extras count
78% automatic termination: Month 106 — 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 |
|---|---|---|---|
| 58 | $281,320.34 | 80.38% | |
| 59 | $280,646.04 | 80.18% | |
| 60 | $279,968.23 | 79.99% | 80% request (actual balance, extras count) |
| 61 | $279,286.89 | 79.80% | |
| 62 | $278,602.00 | 79.60% | |
| 104 | $273,885.58 | 78.25% | |
| 105 | $273,372.56 | 78.11% | |
| 106 | $272,856.87 | 77.96% | 78% automatic (scheduled balance, extras ignored) |
| 107 | $272,338.49 | 77.81% | |
| 108 | $271,817.41 | 77.66% |
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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