Cancel PMI check
Can you cancel PMI yet?
Enter what you paid, your down payment, your rate and your ZIP code. You get your loan-to-value today, against what you paid and against what your home is worth if it grew like your area did, next to the thresholds at which PMI can end, with the month each one is reached.
Check your loan-to-value
Fill in the purchase and the loan you took to buy, then press the button. The example below is a real result.
Informational only, not legal, lending or professional advice and not an appraisal. Your servicer applies the rules to your actual balance and its own valuation.
Methodology
The thresholds. The Homeowners Protection Act, as CFPB describes it, gives a borrower the right to request cancellation when the balance is scheduled to reach 80% of the original value, requires automatic termination when it is scheduled to reach 78%, and requires termination the month after the midpoint of the amortization schedule. Original value is the lesser of the sales price and the appraised value at closing; this tool uses the price you enter. Separately, Fannie Mae Servicing Guide B-8.1-04 allows borrower-requested termination based on current value for a one-unit principal residence at 75% loan-to-value or less if the loan is seasoned two to five years, or 80% or less if seasoned more than five years, with a servicer-ordered appraisal.
The balance. Loan amount = price − down payment, run through the standard fixed-rate amortization schedule from the month after closing to this month. The month each original-value threshold is reached is the first scheduled payment after which the balance is at or below that share of the price. The midpoint is payment number term × 6.
The value. Value today = purchase price × (index now ÷ index at purchase), from the FHFA House Price Index for the smallest area with usable data (ZIP, then county, then metro, then state), exactly as the value calculator does. The current-value loan-to-value is balance ÷ that estimate. It is an area-based estimate; a servicer will use its own appraisal or valuation.
Data. Index files are a committed snapshot pulled from FHFA (last pull 2026-09-28): quarterly state and metro series through 2026 Q2, annual county and ZIP series dated March 31, 2026. The thresholds are reviewed annually against the CFPB and Fannie Mae pages linked above.
What this check cannot know
- Your house. The value tracks the area’s average. Renovations, condition and lot are invisible to it, and the FHFA index misses cash, jumbo, FHA and VA sales. An appraiser will see all of that.
- Your real balance and history. Extra payments, a refinance, a second lien, an adjustable rate or a late payment all change what the rules say for you. The balance here is the on-schedule figure.
- Your appraised value at purchase. If it was below the price, the original-value thresholds are lower than shown.
- Your servicer’s process. Freddie Mac, portfolio lenders and individual servicers have their own procedures and fees for a current-value request. This is not an appraisal or a determination.
Last reviewed: September 2026. Thresholds: Homeowners Protection Act via CFPB and Fannie Mae Servicing Guide B-8.1-04, checked September 2026. Data vintage: FHFA master file 2026 Q2; annual county and ZIP files dated March 31, 2026.
Frequently asked questions
What are the rules for cancelling PMI?
Under the federal Homeowners Protection Act, as the Consumer Financial Protection Bureau describes it, you can ask your servicer in writing to cancel PMI on the date your balance is scheduled to fall to 80 percent of the home's original value, if you are current with a good payment history and there are no junior liens. The servicer must terminate it automatically when the balance is scheduled to reach 78 percent, and in any case the month after the midpoint of the loan term. Original value is the lesser of the purchase price and the appraised value at purchase.
Does my home going up in value help?
The federal thresholds use original value, so appreciation does not move them. But Fannie Mae's servicing guide lets a borrower ask for termination based on current value: 75 percent loan-to-value or less if the loan is two to five years old, 80 percent or less if it is more than five years old, with an appraisal the servicer orders. Freddie Mac has similar provisions. This tool estimates your current loan-to-value from the FHFA index so you can see whether that route is plausible before paying for an appraisal.
Why is the balance here different from my statement?
The tool runs your original loan through the standard fixed-rate schedule with no extra payments, refinance or missed payments. Your statement has the real balance. If yours is lower, you reach every threshold sooner; a request based on extra payments uses the actual balance, not the scheduled one.
I have an FHA loan. Does this apply?
No. FHA mortgage insurance premiums follow FHA's own rules, which depend on the loan's date and its original loan-to-value, and for most loans since 2013 last for the life of the loan unless you refinance. This tool covers private mortgage insurance on conventional loans only.
Guides
- When Can I Cancel PMI? The Thresholds, and Estimating Your Loan-to-ValueThe 80%, 78% and midpoint rules, the current-value route, and how to estimate your loan-to-value from the FHFA index before paying for an appraisal.
Related tools
Your estimated value today minus what you still owe: the equity you have built since you bought, with the FHFA index and the loan balance math shown.
Open tool →Home Value Since Purchase CalculatorEnter what you paid, when, and your ZIP. See what your home is worth today if it grew like homes in your area did, with the FHFA index values and the math shown.
Open tool →