When Can I Drop PMI?
Private mortgage insurance is not forever. Enter your conventional loan details and see the month you can request cancellation, the month your servicer must automatically terminate it, and how much PMI you'll pay in the meantime.
Your loan
Under the Homeowners Protection Act, PMI thresholds are measured against your original value — the lower of purchase price and original appraised value. Enter that figure above.
Your PMI timeline
Milestone schedule
How this works. We step through your amortization schedule month by month (applying any extra principal), starting from a fresh loan. The 80% LTV point is the first month your balance drops to or below 80% of original value — the earliest you may request PMI cancellation in writing, provided you're current and the lender doesn't require a fresh appraisal for value concerns. The 78% LTV point is when the servicer must automatically terminate PMI. A separate midpoint rule also cancels PMI at the halfway point of the loan term (month 180 on a 360-month loan) if you're current, whichever comes first. Assumptions: fixed rate, on-time payments, PMI charged every month until it drops, and no lender-required appraisal. Appreciation-based removal (if entered) always requires a lender-approved appraisal and is at the servicer's discretion. Educational estimate, not financial advice.