PMI Cancellation Countdown
Estimate how many months remain until your mortgage drops below 80% loan-to-value (LTV) so you can request PMI removal, and when it will hit the 78% automatic cancellation threshold. Enter your current balance and home value; the calculator projects amortization with optional interest rate and remaining term defaults.
For informational use only. Confirm PMI removal policies and amortization details with your loan servicer.
Examples
- $320,000 balance, $350,000 value, 6.5% rate, 25 years left ⇒ Current LTV: 91.43% • Time to reach 80% LTV: 76 months • Time to automatic 78% cancellation: 87 months • Estimated monthly payment: $2,160.66 USD.
- $260,000 balance, $410,000 value, defaults for rate and term ⇒ Current LTV: 63.41% • Time to reach 80% LTV: 0 months • Time to automatic 78% cancellation: 0 months • Estimated monthly payment: $1,755.54 USD.
FAQ
What if my lender requires a new appraisal?
Use the expected appraised value instead of an estimate so the LTV calculation aligns with what the lender will accept.
How does prepaying principal change the countdown?
This calculator assumes scheduled payments only. A lump-sum prepayment lowers the current balance, which you can enter to see the shortened timeline immediately.
Why is 78% different from 80%?
Borrowers can request cancellation at 80% LTV, but federal rules require automatic PMI termination at 78% LTV if you are current on payments.
Does the rate stay constant?
Yes. The projection holds the interest rate fixed and does not account for adjustable-rate resets or changes to escrow amounts.
Additional Information
- Result unit: months until key PMI cancellation milestones, alongside the modeled monthly mortgage payment.
- 80% LTV is the common threshold to request cancellation; 78% is when lenders must cancel if payments are current.
- Defaults assume a 6.50% interest rate and 25 years remaining; adjust to mirror your actual loan terms.