PMI Removal Calculator
Three separate rules decide this and people mix them up constantly. At 80% you may ask. At 78% it must come off. At the loan's midpoint it goes regardless. All three are measured against what the house was worth when you bought it. not what it is worth now.
It must come off by
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- You may ask from
- -
- Balance you need to ask
- $0
- Balance for automatic removal
- $0
- The midpoint rule kicks in
- -
- Your monthly payment
- $0
Where the money goes
The green block is balance you need to ask and it stays yours. The orange is your monthly payment and it does not come back.
Move it and watch
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at {v} for what you borrowed
And what you can change
Why your own figure may differ
What paying extra buys you
Because the rules are about your balance, extra payments move the date directly. For most people a modest amount each month brings it forward by years.
| Extra each month | You may ask from | Sooner by |
|---|
Removing PMI: real examples
Three situations worth checking against your own loan. Click any card to load it.
- A small deposit
$400,000 house, 5% down
A $380,000 loan at 6% over 30 years.
You wait years to reach the line. The tool gives the exact month you may ask, and the month it must come off by law.
Load this scenario in the calculator → - Paying extra
The same loan plus $250 a month
A modest extra payment against the principal.
The date moves forward by years, not months. The table shows what each amount buys you.
Load this scenario in the calculator → - The house went up
Worth $500,000 now, still owe $340,000
A rising market, but the automatic rules ignore it.
Against the new value you are at 68%. well past the line. But you must pay for a valuation and ask; it does not happen on its own.
Load this scenario in the calculator →
Common questions about removing PMI
When can I get PMI removed?
Three separate rules, and people mix them up constantly. At 80% of the original value you may ask for it to come off. At 78% your servicer must remove it without being asked. And at the midpoint of your loan it comes off regardless of the balance. This tool gives you all three dates for your own numbers.
Does it help that my house has gone up in value?
Not by itself, and this is the part that catches everyone. The automatic rules are measured against what the house was worth when you bought it - the original value. A rising market does not move those dates at all. What it can do is open a second route: pay for a new valuation and ask on the strength of that. Servicers set their own conditions for this and do not have to say yes.
What is the fastest way to get rid of it?
Pay extra off the principal. Because the rules are about your balance, every extra dollar brings the date closer. The table on this page shows exactly how many months different extra payments buy you - for many people a modest amount each month brings it forward by years.
What is the midpoint rule?
It ends PMI the month after you pass the halfway point of your loan, whatever your balance is. On a 30-year mortgage that is month 181. It matters most for people who put very little down or have a high rate, where the balance falls slowly - it puts a ceiling on how long you can be charged.
Do I have to be up to date on payments?
Yes. You must be current on your payments for termination to happen. Falling behind can delay removal even if your balance has reached the line.
Does this apply to FHA loans?
No. These rules cover private mortgage insurance on conventional loans. FHA loans carry a different charge with its own rules, and on many FHA loans it lasts the whole life of the loan unless you refinance out of it. Worth checking which kind you actually have.