PMI Removal Calculator
Find out when your loan crosses the thresholds that end mortgage insurance.
What This Calculator Does
Projects your loan balance forward using your original price, loan amount, rate, and term, then flags the point where you can request PMI cancellation and the point where a servicer must terminate it automatically.
Who Is This For
Owners paying PMI who bought with less than 20% down, buyers estimating how long the cost will apply, and owners checking whether their scheduled balance has already crossed the request threshold, which is measured against the original value rather than today's market value.
How It Works
Enter your original property value, original loan amount, rate, term, your monthly PMI payment, and how long you have been paying, to see your current loan-to-value ratio, the projected cancellation points, and the estimated PMI cost still ahead of you.
Frequently Asked Questions
When can I request PMI removal?
Under federal rules, a borrower may generally request cancellation once the loan balance reaches a set percentage of the home's original value, assuming payments are current; the request typically must be made in writing.
When does PMI end automatically?
PMI is generally required to terminate automatically once the balance reaches a lower set percentage of the original value, assuming payments are current, even without a borrower request.
Can appreciation help me cancel PMI sooner?
Some lenders allow cancellation based on a new appraisal showing increased value, though this route is a lender policy rather than an automatic right, and it typically requires a paid appraisal and a minimum seasoning period.
Does this apply to FHA loans?
No — FHA mortgage insurance follows its own separate rules, and on many FHA loans it is not removable simply by reaching an equity threshold; refinancing into a conventional loan is a common path to remove it.