Request versus automatic termination
Borrower-requested cancellation is commonly tied to 80% of the original value. Automatic termination is commonly tied to 78% based on the original amortization schedule.
The PMI calculator walks a fixed-rate schedule to those balances. It cannot see late payments, a second lien, or a request for a new valuation.
What this does not cover
FHA MIP does not use this conventional schedule. Some FHA premiums last for the life of the loan depending on the term and the original loan-to-value ratio.
Extra principal can move the balance down sooner. Ask the servicer which date they will use before counting on the estimate.
| Balance | What people ask about |
|---|---|
| 80% of original value | Request to cancel |
| 78% of original value | Automatic end on schedule |
Calculators
Related guides
Sources
Common questions
Does hitting 80% cancel PMI by itself?
Not always. You often have to request it, be current, and meet the servicer's conditions.
Can a higher home value remove PMI sooner?
Sometimes a servicer accepts a new valuation. This calculator uses the original value you enter, not a future market price.