PMI cancellation benchmark checker

What the benchmarks mean

The CFPB says borrowers generally may ask in writing to cancel PMI when the mortgage is scheduled to reach 80% of the home’s original value, or earlier after extra principal payments bring the balance to that level. The request has conditions: the borrower must be current with a good payment history, certify there are no junior liens, and provide evidence that the property value has not fallen below its original value when the servicer requires it.

For covered loans, automatic termination generally occurs when the scheduled balance reaches 78% of original value, provided payments are current. PMI also must end the month after the loan reaches the midpoint of its original amortization term if it has not ended earlier, subject to being current. This tool only compares your entered balance and elapsed months to those benchmarks; it does not reconstruct your scheduled amortization or check the other requirements.

“Original value” generally means the lower of the purchase contract price or appraisal at purchase. After a refinance, it generally means the appraisal value at refinance. Check your PMI disclosure and contact your servicer for the scheduled dates, required documentation, valuation process, and any investor-specific rules. CFPB guidance last reviewed August 28, 2026; checked November 3, 2026: When can I remove PMI from my loan?

For FHA insurance, which follows different rules from conventional PMI, see the FHA MIP versus conventional PMI guide. For a broader monthly payment estimate that includes mortgage insurance you enter, see the full housing-cost estimator. The CFPB’s separate rules for FHA and VA mortgage insurance should be confirmed with your servicer.

How it works

Enter the original value used for PMI, current principal balance, original term, and months since the loan began. The tool compares those inputs with CFPB benchmarks but does not determine eligibility or predict the scheduled balance.