PMI Removal Calculator

On a $350,000 home bought with a $332,500 loan at 6.5% over 30 years, the balance reaches 80% of the original value after 10 years 4 months and 78% after 11 years 3 months. An extra $200 a month brings the 80% point to 7 years.

Enter your own loan below. The rules behind the two dates are in the next section.

PMI removal calculator

Loan to value at the start: 95.0%. Scheduled payment: $2,101.63.

Balance reaches 80% of the original value: after 10 years 4 months.

Balance reaches 78%: after 11 years 3 months.

With $200 extra a month the balance reaches 80% after 7 years, 3 years 4 months sooner.

The 80% and 78% rules

The CFPB says you can ask your servicer to cancel PMI on the date your principal balance is scheduled to fall to 80 percent of the original value of your home.

The CFPB says that in general your servicer must automatically terminate PMI on the date your principal balance is scheduled to reach 78 percent of the original value, if you are current on your payments, and that FHA, VA and lender-paid mortgage insurance follow different rules.

The CFPB says original value generally means the contract sales price or the appraised value of your home when you bought it, whichever is lower, and after a refinance it is the appraised value at the time of the refinance.

So enter the lower of the price and the appraisal as the home value, or the appraisal at the refinance if you refinanced. The loan balance on each date comes from the standard payment formula, the same one used in how to calculate a mortgage payment.

Down payment and the date PMI can go

The example home is $350,000 at 6.5% over 30 years, a payment of $2,101.63 on the 5% down loan. The more you put down, the sooner the balance reaches 80%.

Down paymentLoanReaches 80% afterReaches 78% after
5%$332,50010 years 4 months11 years 3 months
10%$315,0007 years 11 months9 years 1 month
15%$297,5004 years 8 months6 years 3 months
20%$280,000from day one2 years 2 months

An extra payment each month

The same 5% down loan, with extra principal added to every payment. The saving is on the time to the 80% point, not on the loan term.

Extra a monthReaches 80% afterSooner by
$010 years 4 months-
$1008 years 4 months2 years
$2007 years3 years 4 months
$5004 years 9 months5 years 7 months

Before you ask your servicer

The CFPB says that to have a cancellation request granted you need to make it in writing, have a good payment history, certify there are no junior liens such as a second mortgage, and show that the value of your property has not declined below the original value.

Ask your servicer for its exact steps and any fee for the check. To see what an extra payment does to the whole loan, use the extra payments mortgage payoff calculator.

Frequently asked questions

How do I use this calculator?

Enter the home value and loan amount from your closing papers, the rate and the term. The result is the time from the first payment until the scheduled balance reaches 80% and 78% of that original value.

Is the original value the same as what my home is worth today?

No. The calculator uses the original value you enter, because the dates above are measured against it. Your home may be worth more today, and your servicer can tell you what it accepts as proof of a new value.

Does an extra payment end PMI sooner?

It brings the balance to 80% sooner: on the example loan an extra $200 a month does it 3 years 4 months earlier. Ask your servicer whether it counts extra principal toward a request before the scheduled date.

What is the monthly cost of PMI?

It depends on your loan and your insurer, so it is not in this calculator. Your loan estimate or monthly statement lists the amount you pay.

How do I find the months to 80% in a spreadsheet?

Use NPER(rate/12, -payment, loan, -0.8*value). It returns the number of monthly payments after which the balance is 80% of the original value.

Sources

Every figure on this page comes from the pages below. Checked 2026-11-14. Rules change, so confirm with your own servicer.

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