PMI Removal Calculator
Private mortgage insurance usually costs 0.3% to 1.5% of the loan per year. This calculator shows your current loan-to-value and the exact dates your PMI can end.
On a conventional loan, you can request PMI cancellation once your balance reaches 80% of the original home value, and the lender must end PMI automatically at 78% under the Homeowners Protection Act of 1998, as long as you are current on payments. You will generally need a good payment history, no subordinate liens, and possibly an appraisal proving the value. FHA loans work differently: for most loans originated after June 2013, mortgage insurance premium lasts 11 years with 10% or more down, or the life of the loan with less, and refinancing into a conventional loan is the only way to remove it early.
Data current as of October 2026. PMI rules follow the Homeowners Protection Act of 1998 and CFPB guidance; FHA rules follow HUD. Confirm your loan's terms with your servicer.
How the math worked
This is an estimate for planning only, not financial advice. PMI cancellation rules depend on your loan type, investor, and servicer. The Homeowners Protection Act sets federal minimums; your loan may differ. Confirm dates and requirements with your mortgage servicer in writing.
How PMI removal actually works
Private mortgage insurance protects the lender, not you, and it is supposed to be temporary. On a conventional loan, federal law gives you two exits. First, you can request cancellation once your loan balance reaches 80% of the original home value, provided you are current on payments, have a good payment history, and can show the property value has not declined, which usually means paying for an appraisal. Second, under the Homeowners Protection Act of 1998, the servicer must terminate PMI automatically once the balance reaches 78% of the original value on the original amortization schedule, as long as you are current. There is also a final termination at the loan's midpoint, 15 years into a 30-year loan, even if you are behind.
The detail borrowers miss is that the 80% and 78% thresholds are measured against the original value or purchase price, whichever is less, not against what the home is worth today. Appreciation helps you only through the first door: a new appraisal can prove your current loan-to-value is at or below 80% and support an early cancellation request. The automatic 78% termination follows the original schedule regardless of market gains.
FHA loans play by different rules. For most FHA loans originated after June 2013, the mortgage insurance premium lasts 11 years if you put at least 10% down, or the entire life of the loan if you put down less. There is no 80% request and no 78% automatic end. The standard exit is refinancing into a conventional loan once you have at least 20% equity.
Learn more about PMI removal
- How to Get Rid of PMI Early: 5 Methods That Work
- The 80/20 Rule for PMI Removal, Explained
- FHA MIP vs Conventional PMI Removal Rules
- Will a New Appraisal Remove PMI?
- How Much Does PMI Cost Per Month?