When does PMI automatically stop?

By federal rule (the Homeowners Protection Act) lenders must cancel borrower-paid PMI automatically once the scheduled balance reaches 78% of the original value, and must honour a written request at 80%.

How much does PMI cost?

Typically 0.3%–1.5% of the loan amount per year, driven mainly by credit score and loan-to-value. This calculator lets you enter the exact rate your lender quoted.

Does home appreciation remove PMI sooner?

It can, but not automatically — you generally need a new appraisal and a written request. Automatic cancellation is based on the original value, not the current one.

Not financial advice. Mortgage FV Calculator is a software calculator, not a personal-finance product or advisory service. It computes standard financial functions and displays the results for your convenience. Nothing here constitutes, or is intended to constitute, financial, investment, tax, legal, mortgage, credit, or insurance advice. Always consult a qualified professional before making any financial decision.

PMI calculator

Private mortgage insurance applies when you put down less than 20%. It is not permanent — this calculator shows what it costs each month, what it costs in total, and the month your scheduled balance hits the 80% and 78% loan-to-value cancellation thresholds.

Monthly PMI

$207

92.0% LTV at closing

Total PMI paid

$25,668

Until automatic cancellation

Principal & interest

$2,685

When PMI can come off

80% LTV — request cancellation: month 110 (9 yr 2 mo)
78% LTV — automatic termination: month 124 (10 yr 4 mo)

Both dates are based on the scheduled amortisation of the original value. Extra principal payments reach the threshold sooner — model that on the overpayment calculator.

Common questions

When does PMI automatically stop?: By federal rule (the Homeowners Protection Act) lenders must cancel borrower-paid PMI automatically once the scheduled balance reaches 78% of the original value, and must honour a written request at 80%.
How much does PMI cost?: Typically 0.3%–1.5% of the loan amount per year, driven mainly by credit score and loan-to-value. This calculator lets you enter the exact rate your lender quoted.
Does home appreciation remove PMI sooner?: It can, but not automatically — you generally need a new appraisal and a written request. Automatic cancellation is based on the original value, not the current one.

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PMI calculator

When PMI can come off

Common questions

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