PMI Removal Calculator
Enter six numbers and see your loan-to-value against both your original purchase price and your home’s current value. Those two bases govern different cancellation pathways, which is why one number on its own does not tell you where you stand. No signup, no email, nothing hidden behind a form.
Your results
Your closing date falls before July 29, 1999, which is when the Homeowners Protection Act took effect. The pathways below are set by that Act, so they do not apply to your loan. Your servicer’s own policy governs instead, and it is worth asking them directly what it says.
Which pathway each basis governs
These are estimates, not an appraisal. The current value you entered is your own figure, and an LTV built on it is only as good as that number. Your servicer decides whether mortgage insurance comes off, and they will use their own valuation, not this one.
A valuation usually costs money, and you pay it. Servicers commonly require a broker price opinion or a full appraisal before they will cancel. Expect roughly $300 to $650 for an appraisal, at your expense. Confirm your position with free data before you order one.
Meeting a threshold here does not mean your servicer will agree. Investors such as Fannie Mae and Freddie Mac impose seasoning and value-basis requirements of their own, and servicers apply them, so a homeowner who clears the federal threshold can still be told no for reasons that are entirely lawful. EquityUp identifies whether you qualify. It is not a lender, servicer, broker, or appraiser.
Why two different LTV numbers
Mortgage insurance cancellation under the Homeowners Protection Act does not run off a single loan-to-value figure. Some pathways measure against what the home was worth when you bought it, and one measures against what it is worth now. A homeowner in a market that has appreciated can be nowhere near the threshold on one basis and past it on the other, which is exactly the situation the calculator is built to surface.
Loan age matters too. The current-value pathway applies a stricter threshold to newer loans, so the same equity position can qualify at five years and not at four.
There are further termination provisions in the Act beyond the ones calculated here, including one tied to the midpoint of your amortization schedule. Check the CFPB’s guidance on PMI cancellation and the text of the Act at 12 U.S.C. §4901 and following for the complete picture.