PMI Removal Calculator
Compare the original-value 80% request threshold with the original-schedule 78% termination milestone. Extra principal affects the request balance separately.
Rule year: 2026 · USD · Sources checked
Current illustrative loan-to-original-value ratio
Conventional fixed, fully amortizing mortgage with established original value and original schedule. Original principal does not exceed that value. Extra reduction summarizes payments beyond schedule. No FHA/VA/USDA, ARM, high-risk exception, refinance, current-appraisal policy or final payment-history/equity eligibility determination.
For informational purposes only. This estimate is not financial advice, a tax return, a payroll calculation or a lender decision. See the supported circumstances and exclusions below.
How this calculator works
For the supported conventional fixed mortgage, an owner can request PMI cancellation when the balance reaches the applicable 80% original-value threshold, subject to conditions. Automatic termination generally uses the original scheduled 78% milestone when the loan is current. This tool reconstructs the original amortization schedule and separately subtracts an entered cumulative principal reduction to illustrate the request balance. Extra payments do not rewrite the original scheduled automatic-termination date. The original term midpoint is also shown for the separate final-termination check, subject to current-payment conditions. FHA mortgage insurance and current-appraisal policies use different rules.
Formula and rules
Request balance = original scheduled balance after elapsed months − additional principal reduction. Request threshold = 80% × original value. Scheduled automatic threshold = 78% × original value on the original schedule.
Assumptions and limitations
Conventional fixed, fully amortizing mortgage with established original value and original schedule. Original principal does not exceed that value. Extra reduction summarizes payments beyond schedule. No FHA/VA/USDA, ARM, high-risk exception, refinance, current-appraisal policy or final payment-history/equity eligibility determination.
Worked example
A $270,000 zero-rate original loan on a $300,000 original-value home over 30 years pays $750 principal monthly. Scheduled 80% is reached in month 40 and 78% in month 48. After 60 payments plus $5,000 extra principal, the illustrated balance is $220,000.
- Current illustrative loan-to-original-value ratio
- 73.33%
- Actual balance after entered extra principal
- $220,000.00
- 80% request threshold
- $240,000.00
- Request threshold reached by entered balance
- Yes; other conditions still apply
Official sources and review
Reviewed against the sources below on 2026-10-06. Rates are held in versioned rule modules. Versioned rules, official source review and year-specific calculation tests.
- CFPB: removing private mortgage insurance ↗
Conventional-loan 80% request and 78% original-schedule automatic-termination rules, subject to conditions.
- CFPB: Debt-to-income ratio ↗
DTI compares monthly debt payments with gross monthly income; lending requirements vary.
Common questions
Does reaching 80% automatically remove PMI?
No. It supports a cancellation request and other conditions apply, including payment history and lender verification.
Do extra payments move the automatic 78% date?
The original-schedule automatic date is distinct from actual-balance request eligibility. This calculator keeps those milestones separate.
Can I use this for FHA mortgage insurance?
No. FHA MIP and other program insurance have different cancellation requirements.