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PMI Drop-Off Calculator

See the month your private mortgage insurance will drop off, based on the federal 80% (request) and 78% (automatic termination) loan-to-value thresholds. Optional inputs for home appreciation and extra payments show how to reach those dates sooner.

Your loan

$

Original purchase price or appraised value at origination

$
%

Illustrative rate. Not an available or quoted rate.

yrs
$

From your loan estimate. Typical: 0.3%–1.5% of loan per year, divided by 12.

%/yr

Optional. Used for the appreciated-value line on the chart.

$

Optional. Added to every monthly payment.

$

Optional. Applied once at loan start.

Request PMI removal (80% LTV)

Reached onMay 2034 (7 yrs 11 mo)

Under the Homeowners Protection Act you can request PMI cancellation once the scheduled balance reaches 80% of the original home value.

Automatic termination (78% LTV)

Reached onJul 2035 (9 yrs 1 mo)

Your servicer must automatically end PMI when the scheduled balance hits 78% of the original value. This is based on the original amortization schedule, so extra payments don't move this date under HPA. Many servicers will honor an earlier request based on your actual balance — ask.

80% based on appreciated value

Reached onApr 2029 (2 yrs 10 mo)

If your home has truly appreciated this much, you may be able to request early cancellation based on current value. Servicers typically require a borrower-paid appraisal and may apply a seasoning period.

PMI cost summary

Total PMI paid until 80% (request)$17,860
Total PMI paid until 78% (auto)$20,492
Results are estimates based on user inputs and do not represent loan terms, APR, or a financing offer. Pre-filled values are illustrative examples, not available or quoted rates. Actual terms depend on credit, property, program, and underwriting.

Loan-to-value over time

LTV vs original valueLTV vs appreciated value
60%70%80%90%0y2y4y6y8y10y12y14y80% — request cancellation78% — automatic termination

Want to drop PMI faster?

A quick conversation with a loan officer can spell out the fastest path off PMI for your specific loan, whether that's a recast, appraisal-based removal, or a rate-and-term refinance. Free, no pressure.

Discuss Your Scenario
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Frequently asked questions

When can I cancel PMI on a conventional loan?
Under the federal Homeowners Protection Act (HPA), you can request PMI cancellation once your loan-to-value reaches 80% of the original purchase value (or appraised value at origination, whichever is less), as long as you're current on payments and have a solid payment history. Your servicer must automatically terminate PMI when the scheduled balance hits 78% of the original value.
Can I drop PMI early if my home has appreciated?
Often yes, but it's a different process. If your home has gained value, your current LTV can be at 80% well before the scheduled date. Most servicers will allow a request based on current value, but they typically require a borrower-paid appraisal (and sometimes a minimum seasoning period, often 2–5 years). The appreciated-value date below is a best-case estimate.
Is FHA mortgage insurance (MIP) the same as PMI?
No. This calculator is for conventional PMI. FHA loans carry Mortgage Insurance Premium (MIP), which on most modern FHA loans lasts the life of the loan if you put less than 10% down. The only way off FHA MIP in that case is to refinance into a conventional loan once you have 20% equity.
Do extra payments really speed up PMI removal?
Yes. Every extra dollar of principal lowers the scheduled balance and brings the 80% and 78% dates closer. For borrower-requested cancellation at 80%, extra payments absolutely count. Automatic termination at 78% is based on the original amortization schedule, but many servicers will honor a request based on the actual (lower) balance if you ask.
Does this calculator use my actual loan?
No. It uses plain amortization math based on the inputs you provide. Your servicer's exact PMI removal date can differ slightly based on payment timing, escrow, and servicer policy. Treat this as a planning estimate, not a loan document.

Related glossary terms

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Related reading

Want the story behind the numbers?

  • ArticleHow much do you need for a down payment?Why the 20% line matters for PMI in the first place.Read
    Try: Closing costs
  • HubLow down payment optionsPrograms that change how (and when) PMI applies.Read
  • ArticleHow much house can you actually afford?How PMI changes the price you can carry.Read
    Try: Affordability
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