Conventional borrower-paid PMI

PMI Removal Calculator

Estimate loan-to-value ratios and PMI review dates. Compare original-value thresholds with hypothetical appraisal values, while keeping request conditions separate from automatic termination.

Loan and property details

Insurance / loan type

FHA mortgage-insurance premiums follow separate rules; this calculator will not apply conventional PMI dates to FHA or other unsupported loans.

I confirm an unmodified, fully amortizing fixed-rate loan on a one-unit primary residence, closed on/after July 29, 1999, with borrower-paid PMI and no high-risk designation.

Original property value ($)Current estimated property value ($)Original loan amount ($)Current principal balance ($)Original fixed annual rate (%)Original term (whole years)Completed monthly periods at balance dateAmortization start date (first payment one month later)Payment historyJunior liens / second mortgages

Use the original value recognized in your PMI disclosure: generally the lower purchase price/appraisal, or the appraisal at refinance. Enter the balance after the completed monthly periods; the tool derives the balance date from the start date. Dates may be historical or hypothetical.

For the payment-history screen, good means current, no 30-day delinquency in the last 12 months and no 60-day delinquency in the last 24 months. A servicer must verify the record and any applicable exceptions.

Inputs stay in this browser and are not saved.

Threshold dates and conditions

Original-value thresholds stay independent of appreciation
Milestone	Balance threshold	Estimated date

Potential appraisal scenarios

These 75% and 80% comparisons are hypothetical, not universal cancellation criteria. Investor rules, loan age, property improvements, valuation requirements and payment history can affect availability. Ask your servicer which threshold and valuation process apply before ordering an appraisal.

Current balance and current estimated property value
Hypothetical LTV	Required value at current balance	Paydown at entered value	Numerical threshold met?

Request versus automatic termination

For covered conventional PMI, cancellation may be requested when scheduled or actual principal reaches 80% of original value. A written request, acceptable payment history, no junior liens and evidence against a value decline may be needed. Appreciation alone does not change this original-value calculation.

Automatic termination generally uses the original schedule's 78% point, not an accelerated balance after extra payments, and requires current payments. The midpoint safeguard is the month after half the original amortization period, also subject to being current. Delinquency can delay termination; this tool does not predict a cure date.

Calculation assumptions

Scheduled balances use the original loan, fixed rate divided by 12 and original term, retaining precision until display. The current-balance projection assumes the same payment and no further extra payments. The request threshold date is the earlier of the original scheduled 80% date and the modeled actual-balance 80% date. If already below 80%, the current balance date is used because the tool does not know when the threshold was first crossed.

The automatic estimate is the earlier of the original scheduled 78% date and the first day of the month following the modeled midpoint. It assumes payments will be current then. Past dates mean the modeled milestone has passed, not that your servicer has removed PMI. Compare dates with your original PMI disclosure; lender rounding and contractual dates may differ.

Unsupported: FHA MIP, VA/USDA, lender-paid insurance, high-risk designations, investment or multi-unit properties, adjustable rates, interest-only periods, modifications, balloon loans and negative amortization. Original LTV at/below 80% or a zero current balance calls for verification of existing insurance rather than a new cancellation prediction.

Sources: CFPB PMI cancellation and termination guidance and Fannie Mae servicing guidance and payment-history criteria. Rules checked October 5, 2026; review due December 31, 2026.