PMI Removal Calculator

Find the exact month you reach 20% equity and can cancel private mortgage insurance.

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Home › Mortgage › PMI Removal

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PMI removed after
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Total PMI Paid
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Starting LTV
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Monthly Saving After
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Initial Equity
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What is PMI and when can you remove it?

PMI is required when your down payment is below 20%. It protects the lender — not you. Under the Homeowners Protection Act, your lender must automatically cancel PMI at 78% LTV. You can request early cancellation at 80% LTV (20% equity) by contacting your servicer in writing.

When can I remove PMI?
Under the Homeowners Protection Act, PMI must be cancelled automatically at 78% LTV. You can request removal at 80% LTV (20% equity).
How much does PMI cost?
Typically 0.5%–1.5% of the loan amount annually. On a $300k loan: $1,500–$4,500/year ($125–$375/month).
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