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PMI Removal Calculator

Find out when you can cancel PMI. Estimate the month your loan reaches 80% LTV for a cancellation request and 78% for automatic termination.

PMI removal details

Projected 80% balance point

7 years, 11 months

Your projected balance reaches $240,000 in month 95.

Current LTV

90.0%

Projected time to 78% balance

9 years, 1 month

Monthly PMI you stop paying

$125.00

Annual PMI cost

$1,500

Potential PMI difference before 78%

$1,750

Projected PMI paid until 80%

$11,875

80% target balance

$240,000

78% target balance

$234,000

This calculator does not determine the HPA automatic termination date. That date generally comes from the original amortization schedule, regardless of your actual balance, and the HPA also has a midpoint rule. Check your PMI disclosure and ask your servicer. A request at 80% also depends on payment history, junior liens, property value, and loan type.

Frequently Asked Questions about the PMI Removal Calculator

How does this PMI removal calculator work?
It projects the balance from your entered loan terms and shows when that projection reaches 80% and 78% of original value. The 80% result can help estimate a borrower-requested cancellation point. The statutory 78% automatic-termination date is based on when the original amortization schedule was scheduled to reach 78%, not simply when an extra-payment projection first crosses it.
What is the difference between the 80% and 78% LTV thresholds?
You may request cancellation at 80% of original value if the Homeowners Protection Act conditions are met. Automatic termination generally occurs on the scheduled date when the principal balance was originally scheduled to reach 78% of original value, provided the loan is current. Extra payments can support an earlier 80% request but do not by themselves move that scheduled 78% date.
What home value should I enter?
Enter the original value of your home, usually the lesser of the purchase price or the appraised value when you closed the loan. The 80% request and 78% automatic thresholds in this tool are measured against that original value. If your home has appreciated, many lenders let you request cancellation sooner based on a new appraisal, but that path is lender-specific and not modeled here.
Which monthly payment should I use?
Use your monthly principal-and-interest payment only. Leave out property taxes, homeowners insurance, HOA dues, and the PMI premium itself, since those do not reduce your loan balance. If you pay extra toward principal each month, your balance reaches the thresholds sooner than this estimate shows.
How can I remove PMI faster?
Extra principal can help you reach the 80% borrower-request threshold sooner. Appreciation-based cancellation, seasoning, appraisal, payment-history, and lien requirements depend on the loan and servicer. The statutory 78% automatic date follows the original scheduled amortization rather than an accelerated actual balance.
Is this financial advice?
No. This is an educational estimate based on the scheduled amortization of a conventional loan, not financial or tax advice. Actual cancellation depends on your payment history, being current on the loan, having no junior liens, and your lender's specific rules. FHA loans (which use MIP) and VA loans follow different rules and are not covered here, so confirm details with your loan servicer.

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