PMI Removal Calculator
Still paying PMI? Find your current loan-to-value, whether you can drop PMI now, and how much principal it takes to get there.
Example: with Current home value $420,000 · Current loan balance $340,000 · Original purchase price $400,000 · Monthly PMI premium $180 → Current loan-to-value (LTV): 81.0%.
- Pay down to reach 80% LTV$4,000 more principal
- Auto-cancel balance (78% of original)$312,000
- PMI you’re paying per year$2,160 / yr
Computed by the calculator below using its default values. Change any input to see your own numbers.
How you compare
Refinance and home-value tools
Learn more80% to ask, 78% automatic
Private mortgage insurance protects the lender, not you, so dropping it is found money. By law you can request removal once your balance hits 80% of the original value, and the lender must automatically cancel it at 78%. Rising home values can also let you refinance out of PMI sooner.
How it’s calculated & sources
LTV = loan balance ÷ current value. We show the principal needed to reach 80% of the current value (request threshold) and the balance that triggers automatic cancellation at 78% of the original value.
Benchmark: request PMI removal at 80% LTV; lenders must auto-cancel at 78% of the original value (Homeowners Protection Act).
Results update as you type and are general estimates, not personalized financial, tax, medical or legal advice. Verify with a professional.
Frequently asked questions
Can rising home value remove PMI?
Yes — if your home appreciates, a new appraisal showing 80% LTV (or less) can let you request removal or refinance out of PMI.
Does FHA mortgage insurance work the same?
No — FHA MIP rules differ and often last the life of the loan unless you refinance into a conventional mortgage. This tool is for conventional PMI.