AWLet’s first identify the mortgage-insurance rules that may apply to you.

Step 1 · Loan type

What kind of mortgage do you have?

Conventional PMI and FHA mortgage insurance do not follow the same removal rules. If you are unsure, your monthly statement or Closing Disclosure should identify the program.

This calculator will show both the federal original-value path and a screening view for a possible current-value review. Your servicer and investor make the actual decision.

AWNow I need the numbers that came with the loan, because federal cancellation rules usually start with the original value.

Step 2 · Original loan

What did the mortgage look like when it began?

For a purchase, “original value” is generally the lower of the purchase price or the original appraisal. For a refinance, it is generally the appraisal used for that refinance.

Original value

Use the lower purchase price/appraisal value, or the refinance appraisal.

Original loan amount

This tells us the starting loan-to-value ratio.

Original term

years

Payments already made

months

Count from the first scheduled payment through today.

Why does the original value matter?

The Homeowners Protection Act generally bases the 80% borrower-request and 78% automatic-termination points on the home’s original value, not today’s online estimate.

AWNext, let’s compare what you owe with both the original value and a reasonable current-value estimate.

Step 3 · Today

Where does the loan stand now?

Current principal balance

Estimated current home value

This is a planning estimate. The servicer may require its own valuation.

Monthly mortgage insurance

Optional one-time principal payment

Use $0 unless you want to test how an extra payment changes the threshold.

Your loan-to-value comparison will appear here.

AWThe numbers are only part of the request. Let’s screen the conditions that a servicer may check.

Step 4 · Request readiness

What else should your servicer know?

Is the loan current?

Any second mortgage or HELOC?

Major improvements since purchase?

How is the home used?

What does “good payment history” usually mean?

Investor rules can be more specific than “current today.” For example, a servicer may review recent 30-day and 60-day delinquencies before approving a borrower-requested cancellation.

AWHere is the planning path I would use before calling the servicer.

Your answer

Planning result · not a servicer decision

You may be close to a PMI request point.

I’m comparing the two rule paths now.

LTV using original value—

LTV using estimated current value—

Monthly mortgage insurance—

Your mortgage-insurance roadmap

The milestones that matter

Reached means the entered balance is at or below the threshold. It does not mean the servicer has approved cancellation.

Possible current-value reviewInvestor and seasoning rules apply.

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80% original-value request pointUsually requires a written request and other conditions.

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78% scheduled automatic pointBased on the original amortization schedule and being current.

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Loan-term midpoint backstopMay matter if the scheduled 78% point arrives later.

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Change one answer without starting over

Loan type Original loan Current balance and value Request conditions

Retain your reviewed roadmap

Email me the numbers for a quality check

You can use the calculator freely. If you want to retain this personalized roadmap, submit your name and email. I will review the entries before sending it. No cost. No obligation.

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Submitting a request does not create an agency, brokerage, lending, or servicing relationship.

Common questions

What I would want you to understand before requesting removal

Does reaching 20% equity automatically remove PMI?

Not necessarily. A borrower request is different from automatic termination. The request path can require a written request, acceptable payment history, no junior lien, and evidence that the property value has not declined.

Can a new appraisal help remove PMI earlier?

Possibly, for some conventional loans. Investor and servicer rules may permit a current-value review, but seasoning, occupancy, loan history, valuation method, and LTV thresholds can differ. Ask the servicer which investor owns the loan and which current-value rule applies.

Can I pay extra principal to reach the 80% point?

Federal guidance says extra principal can help reach the 80% original-value request point earlier. The calculator shows the threshold in dollars, but the servicer still reviews the other conditions.

Does FHA mortgage insurance disappear at 80%?

Usually not under current FHA rules. For many FHA loans with case numbers assigned on or after June 3, 2013, annual MIP lasts 11 years when the original LTV was 90% or less, and for the mortgage term when it was above 90%. Older FHA loans can follow different rules.

Should I refinance just to remove mortgage insurance?

Not from this result alone. A refinance changes the rate, term, closing costs, and payoff schedule. Use the refinance break-even calculator to compare the complete current and proposed mortgages.

Who makes the final decision?

Your mortgage servicer applies the federal law, investor rules, loan documents, payment history, and required valuation. This tool prepares the conversation; it does not approve removal.

Sources and calculation notes

How this estimate is built

The calculator divides the entered principal balance by the entered original value and estimated current value. It compares those ratios with common conventional PMI milestones. It does not determine investor ownership, order a valuation, reproduce your exact amortization schedule, or approve cancellation.

Educational planning estimate only. Rules, investor requirements, property values, and loan status can change. No brokerage, lender, servicer, tax, or legal relationship is created. Past property performance does not guarantee future value. Confirm every conclusion with your mortgage servicer and, where appropriate, a licensed lender, attorney, tax adviser, or other qualified professional.