PMI Removal Calculator 2026
Find exactly when you can cancel private mortgage insurance. Compare all four removal methods — borrower request at 80%, auto-termination at 78%, midpoint, and appraisal-based.
| Method | Threshold | Months Away | Est. Date | PMI Remaining | Status |
|---|
Four PMI Removal Methods — Homeowners Protection Act
| Method | Threshold | Who Initiates | HPA Required? | Based On |
|---|---|---|---|---|
| Borrower Request | 80% LTV | Borrower (written) | Yes — lender must approve if criteria met | Original purchase price |
| Automatic Termination | 78% LTV | Lender (automatic) | Yes — mandatory | Original amortization schedule |
| Final Termination | Loan midpoint | Lender (automatic) | Yes — mandatory backstop | Loan term midpoint |
| Appraisal-Based | 80% LTV (current) | Borrower (appraisal) | No — lender-discretionary | Current appraised value |
Borrower Request Requirements (80% LTV)
| Requirement | Details |
|---|---|
| Written request | Submit written cancellation request to your loan servicer |
| Payment history | No 30-day late in past 12 months; no 60-day late in past 24 months |
| Current on payments | Must be current at time of request |
| No secondary liens | No second mortgage or other liens on the property |
| Property value | Must certify value has not declined below original purchase price |
Typical PMI Rates by Credit Score & LTV (2025–2026)
| Credit Score | LTV 85–90% | LTV 90–95% | LTV 95%+ |
|---|---|---|---|
| 760+ | 0.17%–0.35% | 0.37%–0.65% | 0.53%–0.83% |
| 720–759 | 0.26%–0.54% | 0.54%–0.84% | 0.79%–1.09% |
| 680–719 | 0.47%–0.87% | 0.71%–1.11% | 0.97%–1.37% |
| 640–679 | 0.88%–1.28% | 1.08%–1.48% | 1.28%–1.68% |
| Below 640 | 1.28%–1.80% | 1.48%–2.00% | 1.68%–2.20% |
Rates are annual percentages of the original loan amount. Your exact rate is on your closing disclosure or monthly mortgage statement.
PMI vs. FHA MIP: Key Differences
| Factor | PMI (Conventional) | FHA MIP |
|---|---|---|
| Governed by | Homeowners Protection Act | FHA/HUD regulations |
| Removable? | Yes — at 80% or 78% LTV | Less than 10% down: life of loan |
| How to remove | Written request or automatic | Refinance to conventional only |
| Annual rate 2026 | 0.20%–2.00% (varies) | 0.55% (less than 5% down, 30-yr) |
| Tax deductible 2026 | No — expired after 2021 | No — expired after 2021 |
How to Use This PMI Removal Calculator
Our free PMI removal calculator gives you a precise estimate of when you can cancel private mortgage insurance using all four methods under the Homeowners Protection Act. Here is how to get the most accurate result:
- Enter your home purchase price. The HPA uses the original appraised value at closing for all LTV calculations regardless of current market value.
- Enter original and current loan balance. Find the original on your closing disclosure and the current balance on your latest mortgage statement.
- Enter your PMI rate. Find it on your mortgage statement. Use 0.85% as a reasonable default for a 90% LTV loan with mid-range credit.
- Enter the loan start date so the calculator knows elapsed months and can project each removal milestone.
- Open Advanced Options to enter current home value if your property has appreciated, and any extra monthly payment.
How to Remove PMI in 2026: The Four Methods
Method 1 — Borrower Request at 80% LTV (Fastest Path)
Under HPA §4902, once your balance reaches 80% of the original purchase price you have a legal right to request cancellation in writing. Cancellation is effective on the date you hit 80%, not the date of your request. Requirements: current on payments, no 30-day late in past 12 months, no secondary liens, property value not declined.
Method 2 — Automatic Termination at 78% LTV
Your lender must automatically cancel PMI when the scheduled balance reaches 78% of the original purchase price. This is based on the original amortization schedule — extra payments do not accelerate this date. Waiting costs more than requesting at 80%.
Method 3 — Final Termination at Loan Midpoint
PMI must terminate at the midpoint of your loan term regardless of LTV — month 180 for a 30-year mortgage. This is the HPA backstop. You must be current on payments.
Method 4 — Appraisal-Based Removal
If your home has appreciated and current LTV is 80% or less based on a new appraisal, you can request removal. Lender-discretionary. Most lenders require 2 or more years of payments and a $300 to $600 appraisal paid by you. This is the best option if significant appreciation has occurred.
When Does PMI Go Away? LTV Thresholds Explained
PMI is tied to your loan-to-value ratio: LTV equals loan balance divided by home value times 100. Above 80%: PMI required. At 80%: you can request removal. At 78% scheduled: lender must auto-cancel. At midpoint: must cancel regardless. The gap between requesting at 80% and waiting for 78% is typically 6 to 18 months of avoidable PMI payments.
PMI Cancellation 2026: What Is New
There are no changes to the Homeowners Protection Act in 2026. The 80%, 78%, midpoint framework from 1998 remains fully in effect. The PMI tax deduction expired after tax year 2021 and has not been reinstated as of 2026. PMI premiums paid in 2026 are not federally tax-deductible. Consult a qualified tax professional.
Frequently Asked Questions
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