How to remove PMI: every legal path, explained
Three federal-law paths to cancel private mortgage insurance: 80% original value, 78% automatic termination, and current-value cancellation after appreciation. Steps, costs, and thresholds.
PMI removal calculator: your exact cancellation date
Free PMI removal calculator. Runs both federal LTV tests — 80% of original value and 75–80% of current value — plus your automatic termination date and monthly savings.
How to remove PMI without refinancing
You don't need to refinance to drop PMI on a conventional loan. Written cancellation at 80% LTV or the current-value path costs $0–600 versus thousands in refi closing costs.
How much does PMI cost per month?
PMI runs 0.3%–1.5% of your loan per year — $95 to $475 a month on a typical loan. What drives your rate, what it costs to wait, and how to stop paying it.
PMI vs MIP: what's the difference?
PMI is on conventional loans and can be cancelled. MIP is on FHA loans and usually cannot. How to tell which you have, and what your exit is either way.
Does refinancing remove PMI?
Refinancing can remove PMI — but it is often the costliest way to do it. When a refi genuinely makes sense, when cancelling in writing is free, and how to run the math.
The 78% LTV rule, explained (and the numbers that beat it)
What the 78% LTV rule actually means: automatic PMI termination based on original value and the original schedule — and the 80% and 75% rules that beat it.
When does PMI fall off automatically?
PMI terminates automatically at 78% LTV of original value — on the scheduled date, not when your home appreciates. Here's how to find your date and beat it.
Your home went up in value. Your PMI didn't get the memo.
Home appreciation can qualify you to cancel PMI years early: 75% LTV of current value for loans 2–5 years old, 80% after 5 years. Process, costs, and the letter to send.
The PMI removal appraisal: cost, process, preparation
What the PMI removal appraisal or BPO costs ($150–600), who orders it, how the visit works, and how to prepare your home to hit the number.
Your PMI removal was denied on a low appraisal. Now what?
A lowball BPO is where most PMI cancellations die. How to request a reconsideration of value, what evidence actually moves the number, and when to escalate.
How to remove FHA mortgage insurance (MIP)
FHA MIP removal rules by loan date and down payment: who can cancel, who has lifetime MIP, and when refinancing to conventional makes sense.
FHA to conventional refinance: the MIP exit, step by step
How to refinance from FHA to conventional and drop lifetime MIP: the 20% equity threshold, break-even math, streamline-refi trap, and timing.
How to remove PMI from a Chase mortgage
Chase PMI removal: eligibility rules for Chase-owned loans, the PMI Department address and phone, BPO requirements, and escalation steps.
How to remove PMI from a Mr. Cooper mortgage
Mr. Cooper PMI removal: the exact mailing address, signature requirements, BPO process and cost, response timelines, and what to do if they stall.
How to remove PMI from a PennyMac mortgage
PennyMac PMI removal: how to submit the request through the Secure Message Center or by mail, what they check, and how to escalate if the valuation comes in low.
How to remove PMI from a Rocket Mortgage loan
Rocket Mortgage PMI removal: how the Fannie vs Freddie distinction changes your threshold, the request process, valuation options, and escalation steps.
How to remove PMI from a Wells Fargo mortgage
Wells Fargo PMI removal: request process, payment-history requirements, why you shouldn't order your own appraisal, and the escalation path.