When Does PMI Automatically Cancel?

Short Answer

PMI automatically cancels when your loan is scheduled to reach 78% of the original property value, as long as your loan is current.
 

What’s Happening

As you make payments, your loan balance decreases. Federal guidelines require automatic PMI cancellation at a specific loan-to-value threshold.
 

What It Means for You

• Automatic cancellation occurs at 78% of the original property value.
• Your mortgage must be current at the time of cancellation.
• This is based on your original amortization schedule — not current market value.

You may be able to request removal earlier at 80% loan-to-value if you meet eligibility requirements.
 

What You Should Do Next

• Review your amortization schedule.
• Confirm your current payment status.
• Try our PMI Removal tool if you believe you meet the criteria for PMI removal.
   

Important Dates, Fees, or Risks

• Automatic cancellation is based on original value, not current appraised value.
• If your loan is not current, cancellation may be delayed.
• A valuation fee may apply if requesting early removal.
   

Contact Us If

• You have questions or issues with the PMI Removal tool.