PMI Removal Calculator
Find out exactly when your Private Mortgage Insurance drops off, how much it's costing you, and how extra payments can accelerate your PMI removal date.
1 Loan Details
2 Accelerate Removal (Optional)
Additional principal payment per month to reach 80% LTV faster
You're Already Eligible!
Your current LTV is at or below 80%. Contact your lender to request PMI cancellation — you may be overpaying.
Current LTV
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Monthly PMI
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PMI Removed In
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Total PMI Cost
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Standard vs. Extra Payment
Standard Payment
With Extra Payment
LTV Over Time
Balance Needed to Remove PMI
You need to reach a balance of — (80% of — home value) to eliminate PMI. That's — more in principal paydown from today.
Enter your loan details to calculate your PMI removal timeline
PMI Removal — Common Questions
What is PMI and when is it required?
PMI (Private Mortgage Insurance) is required when your down payment is below 20%. It protects the lender if you default, and typically costs 0.5%–1.5% of your loan amount per year.
When can I request PMI removal?
Under the Homeowners Protection Act, you can request cancellation when your LTV reaches 80%. Lenders must automatically cancel at 78% LTV based on the original purchase price.
How do extra payments help?
Every dollar of extra principal payment directly reduces your balance, lowering LTV faster. Even $100–$200/month extra can cut years off your PMI timeline and save thousands in insurance premiums.
Can home appreciation remove PMI early?
Yes. If your home has appreciated, you may qualify for early PMI removal by requesting a new appraisal. Most lenders require the loan to be at least 2 years old for this option.