Wells Fargo's public PMI guidance describes automatic removal at scheduled 78% LTV and the possibility of earlier removal near 80% LTV, subject to requirements.
Rule of thumb
Wells Fargo explains that automatic PMI removal is typically tied to when the loan is scheduled to reach 78% LTV. Earlier removal may be possible near 80% LTV, but the value used and documentation required can matter.
Preparation
A Wells Fargo PMI cancellation request should be specific enough for servicing review: loan number, borrower names, property address, current balance, and why you believe the account is eligible.
Calculate current and original-value LTV.
Check your Wells Fargo mortgage portal for PMI instructions.
Ask whether a Wells Fargo-ordered value assessment is required.
Keep written confirmation of the requirements.
Payment history
Servicers commonly review recent payment history before approving borrower-requested PMI cancellation. Check your account history before you submit so the answer does not surprise you.
FAQ
Wells Fargo says PMI is typically removed automatically when the loan is first scheduled to reach 78% LTV, if the loan is current.
Wells Fargo states that borrowers may be able to remove it sooner once the loan is paid down to 80% LTV, subject to requirements.
Ask Wells Fargo first. Servicers often require their own valuation process for PMI cancellation.
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 checkRelated
PMI Removal Calculator
Use the free PMI removal calculator to check your loan-to-value ratio, estimate monthly savings, and see whether a conventional PMI cancellation request may be worth reviewing.
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.