Stop paying for insurance you don't need. Calculate your exact 80% LTV Date and see how
much
you save by paying extra.
Last Updated: February 2026
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Enter Loan Details
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Accelerate Your Savings
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Current Loan-to-Value (LTV)0%
0%78% / 80%100%
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Your Savings Report
Without Extra Payments
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Months Remaining: 0
Strategy ⚡
With Extra Payments
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Months Saved: 0
Total
PMI Saved
$0
* Estimated at 0.5% of loan amount
annually.
Return on Extra Payments
Guaranteed Savings
Did you know?
Lenders adhere to the "Original Value" rule. You can request PMI cancellation once your balance hits
80% of the original price—you don't have to wait for the automatic 78% termination!
Can't afford extra
payments?
If your home value has gone up, you might be able to remove PMI today by refinancing.
Private Mortgage Insurance (PMI) is usually required on conventional loans when you put down less than 20%.
The law gives you two key milestones:
80% LTV (Request Date): You can request cancellation from your lender. You need
a good payment history and potentially a new appraisal.
78% LTV (Automatic Date): The lender must terminate PMI by law on the date the
schedule hits 78%, provided you are current.
*This calculator shows you the 80% Request Date, allowing you to act sooner.
Important: FHA Loan Warning
If you have an FHA loan issued after 2013 with less than 10% down, you have MIP (Mortgage
Insurance Premium). Unlike PMI, MIP stays for the life of the loan. You typically must
refinance to a Conventional loan to remove it.
By law (Homeowners Protection Act), lenders must automatically terminate PMI when your scheduled mortgage
balance reaches 78% of the original home value, provided you are current on payments.
Can I request PMI removal sooner?
Yes. You can request cancellation once your balance hits 80% of the home's original value. You do not have
to wait for the automatic 78% termination, but you must ask for it in writing.
Can I remove PMI based on my home's new higher value?
Yes, but rules vary. Most lenders require a new appraisal to prove the value has risen enough to give you
20-25% equity. Some require a 'seasoning period' (usually 2 years) before you can use the new value.
Does this work for FHA loans (MIP)?
Generally, no. Modern FHA loans use MIP (Mortgage Insurance Premium), which typically lasts for the life
of the loan if you put down less than 10%. The only way to remove FHA MIP is usually to refinance into a
Conventional loan.
Do I need a full appraisal to remove PMI?
It depends on the lender. Some may accept a Broker Price Opinion (BPO) or an Automated Valuation Model
(AVM), which are cheaper than a full appraisal. Always ask your lender for the cheapest valuation option
allowed.
Does making extra payments help remove PMI?
Yes! Every extra dollar of principal brings you closer to the 80% Loan-to-Value (LTV) threshold. This
calculator shows exactly how many months faster you can drop PMI by paying extra.