CancelPMI
Free PMI calculator

Check if your PMI may be removable before the lender auto-cancels it

Enter your home value, loan balance, loan type, and monthly PMI to see whether the numbers point toward a borrower-requested cancellation path.

Run the PMI calculatorRead the 80% LTV guide

What it checks

The calculator is built around the numbers servicers ask for

PMI removal usually comes down to a few practical inputs: current balance, property value, original purchase price, loan program, monthly PMI, and recent payment history.

CancelPMI turns those inputs into a first-pass review so you can see whether it is worth asking your servicer for cancellation instead of waiting for automatic termination.

  • Current loan-to-value ratio
  • Estimated annual PMI cost
  • Whether the loan looks like conventional PMI or another insurance type
  • Whether recent late payments could weaken the request

Current value

Why appreciation can matter

Federal automatic termination rules generally focus on the original value schedule. Some borrower-request paths and investor rules can consider a current property value, especially when a valuation supports the file.

That is why a homeowner who has seen meaningful appreciation may want to check the math before the scheduled automatic cancellation date arrives.

Rules vary by investor, servicer, occupancy, property type, payment history, and whether the request relies on original value, home improvements, or current market value.

Next step

What to do if the numbers look promising

If your LTV looks close to or below the relevant threshold, gather your mortgage statement, check your servicer portal for PMI cancellation instructions, and be ready for a valuation requirement.

The CancelPMI review flow captures the key details so the next step is grounded in your file instead of generic mortgage advice.

  1. 1

    Run the calculator with your current loan balance and estimated home value.

  2. 2

    Confirm your loan type and recent payment history.

  3. 3

    Request a review so the file can be checked before you contact the servicer.

FAQ

Is this the same as a refinance calculator?

No. The goal is to check whether PMI may be removable on the existing loan. Some FHA or MIP situations may require refinancing, but conventional PMI often has cancellation paths on the current loan.

Will this affect my credit?

No. The calculator does not pull credit. It uses the mortgage numbers you enter.

Does a low LTV guarantee PMI cancellation?

No. Servicers can require payment-history checks, valuation steps, investor rules, and other conditions. The calculator is a screening tool, not a guarantee.

Check your own PMI numbers before you call the servicer.

The fastest way to make the next step concrete is to run the calculator and see whether your LTV, loan type, and PMI amount point toward a cancellation review.

Start the free check

Related

PMI Cancellation Letter Template

Use this PMI cancellation letter template to prepare a clear borrower request with the details servicers usually need: loan number, property address, request date, signatures, and valuation support.

80% LTV PMI Removal Guide

Learn how the 80% loan-to-value threshold works, how it differs from automatic 78% PMI termination, and what to prepare before asking your servicer to remove PMI.