The month you can ask to drop PMI, and when it ends on its own
Updated 2026-09-28
On a conventional loan you can ask your lender to cancel PMI once your balance is scheduled to reach 80% of the home's original value, and it must end automatically at 78% as long as your payments are current. Enter the home value, loan amount, rate and term to find both months, and add extra payments to see how much sooner PMI comes off. plan extra payments · see PMI in your monthly payment · check the balance month by month.
Your loan
Your PMI dates
You can request removal (80%)
Feb 2037
payment #124, on the regular schedule
With your extra payments
Oct 2033
Ends automatically (78%)
Jan 2038
PMI paid until request
$17,360
Starting loan-to-value
95.0%
The balance must fall to $280,000 (80% of $350,000) before you can ask to cancel PMI, and to $273,000 (78%) for automatic termination.
Estimates for planning, not a loan offer or financial advice. Every rate and cost here is a number you enter or an example you can change; confirm figures with your lender.
The two PMI dates that matter
Private mortgage insurance protects the lender, not you, when a conventional loan starts with less than 20% equity. The federal Homeowners Protection Act of 1998 sets two dates for most conventional first mortgages on a primary residence closed after July 1999, measured against the home's original value (the lower of the purchase price and the appraisal at closing):
80% — borrower-requested cancellation. Once the balance reaches 80% of the original value, either on the original schedule or because you paid extra, you can ask the servicer in writing to cancel PMI. You generally need a good payment history, no second mortgage, and the lender may ask for evidence the value has not declined.
78% — automatic termination. PMI must end automatically on the date the balance is first scheduled to reach 78% of the original value, if you are current on payments. Because this date uses the original schedule, extra payments do not bring it forward.
Midpoint — final termination. If neither date has arrived, PMI must stop the month after the midpoint of the amortization period, month 181 of a 30-year loan.
A $350,000 home bought with 5% down has a $332,500 loan, a 95% loan-to-value. At an example 6.5% over 30 years, the scheduled balance reaches $280,000 (80%) at payment 124, about 10 years 4 months in, and $273,000 (78%) at payment 135. At $140 a month, that is $17,360 of PMI before you can request removal. Adding $200 of extra principal each month moves the 80% point to payment 84, saving about $5,600 of PMI on top of the interest saved.
How to get PMI removed
Find your original value and current balance on your closing disclosure and latest statement.
Use this calculator to find the 80% month, or the month your extra payments get you there.
Send the servicer a written cancellation request and ask what they require (payment history, an appraisal or broker price opinion, no subordinate liens).
Check the next statement to confirm the PMI line is gone, and that the escrow payment has been recalculated.
If your home has gained value, ask whether the servicer will cancel PMI based on a new appraisal; that is a lender policy, not a federal right. To speed up the 80% date, use the extra payment calculator; to see every month's balance, open the amortization schedule.
Frequently asked questions
How do I get rid of PMI faster?
Pay extra toward principal so the balance reaches 80% of the original value sooner, then ask the lender in writing to cancel it. A rise in home value can also help, but lenders usually require a new appraisal for that.
When can I remove PMI?
Under the federal Homeowners Protection Act, on most conventional loans you can ask your servicer in writing to cancel PMI once the principal balance is scheduled to reach, or you have paid it down to, 80% of the home's original value, provided you are current on payments and meet the lender's other conditions (such as no second liens and, sometimes, proof the value has not fallen).
When does PMI end automatically?
It must end automatically when the balance is first scheduled to reach 78% of the original value, if you are current. If that has not happened, it must end at the midpoint of the loan's amortization period (month 181 of a 30-year loan).
Does paying extra principal remove PMI sooner?
Yes, for the 80% request. Extra principal lowers the actual balance, so you reach 80% of the original value sooner and can ask to cancel. The automatic 78% date is based on the original schedule, so extra payments do not move it.
Can a higher home value get rid of PMI early?
Many lenders will consider cancelling PMI based on a new appraisal after the home has risen in value, often requiring you to have held the loan for a minimum time and reach a lower loan-to-value ratio. These rules come from the lender or investor, not the federal law, so ask your servicer.
Does this apply to FHA loans?
No. FHA mortgage insurance (MIP) follows FHA rules: for many FHA loans it lasts for the life of the loan or 11 years depending on the down payment and when the loan started. This calculator is for conventional PMI.