How to Remove Private Mortgage Insurance

Classify the loan first. Borrower-paid PMI on a conventional mortgage follows CFPB cancellation and automatic-termination rules that do not apply the same way to lender-paid MI, FHA, VA, or USDA loans. Find PMI on the statement, compare current principal to the original value, and ask the servicer in writing. The calculator below is an educational estimate only. Your servicer determines eligibility.

• Your monthly statement still shows PMI or mortgage insurance
• You put less than 20% down on a conventional loan, or you refinanced and are unsure
• Home value rose or you made extra principal payments
• You do not know whether the loan is conventional, FHA, VA, USDA, or lender-paid MI
• A cancellation request was denied and you want the official rule set

• A borrower-request cancellation path near 80% original-value LTV
• Automatic termination near 78% original-value LTV if you are current
• A servicer error that kept PMI after the scheduled date
• A current-value request that needs an appraisal and still needs_verification
• Clarity that FHA MIP or VA/USDA charges are a different program

• Monthly statement: look for PMI, MI, or mortgage insurance escrow
• Original property value: purchase price or appraised value used at origination — not a Zillow guess
• Scheduled cancellation or termination date if the servicer prints one
• Current principal balance
• Origination or refinance date, which changes FHA MIP and some conventional exceptions

Automatic termination and many borrower-request cancellations use the original value on the loan. A current-value request because the home appreciated usually needs a servicer-ordered appraisal or valuation and still has payment-history and junior-lien conditions. Label any home-value estimate needs_verification.

• Send a written cancellation request and keep a copy
• Ask whether an appraisal is required and who pays for it
• Junior liens can block cancellation even when first-lien LTV looks low
• A refinance creates a new origination date and new insurance rules
• Servicers publish their own document checklists on top of the federal baseline

FHA MIP and VA funding-fee programs are not the Homeowners Protection Act PMI process. An incorrect denial on a conventional loan can be escalated with the CFPB rule citation and a written request for the servicer’s LTV calculation. An FHA or VA “denial” may simply mean you used the wrong rule set.

• Loan type. Chooses PMI vs MIP vs guarantee fee
• Original property value and current principal. Educational LTV only
• Monthly PMI amount. Shows possible annual cost, not promised savings
• Origination or refinance date. Changes FHA and some conventional exceptions
• Whether junior liens exist. A common servicer denial reason

Do not paste complete loan numbers, online-banking passwords, or Social Security numbers into MoneyPotential. The calculator stores nothing on our servers.

• Confirmed. The servicer removed PMI or provided a written termination date and the next statement no longer includes the charge.
• Likely. Educational LTV is at or below a CFPB threshold on a conventional loan, but the servicer has not confirmed it.
• Possible. You are using current market value, have a junior lien, or the loan type is still unknown.
• Professional review. Incorrect denials, servicing-transfer disputes, or refinance decisions may need a housing counselor or attorney.

• Request the servicer’s official LTV and scheduled termination date in writing
• Ask whether they are using original value or requiring a new appraisal
• Review junior liens and recent late payments
• For FHA/VA/USDA, switch to that program’s official page instead of repeating a PMI letter
• Use the CFPB complaint process after you have a written denial

CFPB guidance describes cancellation requests, automatic termination, high-risk exceptions, and mid-point rules. Those exceptions are why every calculator result is labeled needs_verification. Last verified: August 2026.

• Do not pay a third party an upfront fee to “remove PMI.” Write the servicer listed on your statement.
• Verify callback numbers on the statement, not a search ad.
• Never send login credentials for your loan portal to MoneyPotential.

• Conventional with borrower-paid PMI. HPA / CFPB rules — request near 80% original-value LTV; automatic near 78% if current.
• Lender-paid MI. Often built into the rate. Cancellation is not the standard PMI letter.
• FHA. MIP rules depend on closing date and down payment — not this calculator’s 80/78 shortcuts.
• VA. Funding fee and program rules differ; do not use a conventional PMI request.
• USDA. Guarantee-fee rules are USDA-specific.
• Unknown. Identify the program on the statement or closing disclosure first.