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PMI Removal Calculator

Find the month your PMI can be cancelled or ends automatically, and how extra payments speed it up.

Updated November 4, 2026. Free, no sign-up; everything runs in your browser and nothing you type is stored.

PMI removal calculator

Original value: lower of price or appraisal ($)Original loan amount ($)Interest rate (%)Term (years)First payment monthFirst payment yearExtra principal each month ($)Monthly PMI ($)

You can ask to cancel PMI (80%)

–

–80% on the original schedule

–Automatic termination (78%)

–Final termination (loan midpoint)

–PMI saved

When PMI comes off (Homeowners Protection Act)

Private mortgage insurance on a conventional loan doesn't last forever. Under federal law your servicer must drop it at set points (CFPB):

At 80%, if you ask: you can request cancellation in writing when your balance is scheduled to reach 80% of the home's original value, or sooner if extra payments get you there. You must be current with a good payment history, have no second mortgage, and may need to show the home hasn't lost value.
At 78%, automatically: PMI ends on the date your balance is scheduled to hit 78% of original value, as long as you're current.
At the midpoint: it ends the month after the halfway point of the loan (15 years on a 30-year loan) no matter what.

Original value is the lower of the purchase price or the appraisal when you bought (or the appraisal at a refinance). Many lenders also allow removal based on a new appraisal if the home has gained value, under their own seasoning and LTV rules; ask your servicer. FHA mortgage insurance follows different rules.

Worked example

A $360,000 loan on a $400,000 home at 6.5% for 30 years reaches 80% of value ($320,000) at payment 95, about 7 years 11 months in, and 78% at payment 109. Paying $200 extra a month brings the 80% date forward to payment 64. See the early mortgage payoff calculator or the mortgage payment calculator.

Common questions

When does PMI drop off automatically?

When your balance is scheduled to reach 78% of the home's original value, if you're current.

Can I remove PMI at 80%?

Yes, by asking your servicer in writing, if you meet the conditions.

What is the original value for PMI?

The lower of the purchase price or the appraised value at purchase.

Sources

CFPB: When can I remove private mortgage insurance (PMI)?

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General information, not financial, tax or legal advice. Check important numbers with the official source before acting on them.