Remove PMI and Save Hundreds Monthly
For Planning Purposes Only — These calculations are estimates for educational and planning purposes. Always consult with qualified financial professionals before making financial decisions.
Calculate when you can remove PMI and how much you'll save monthly.
🏠 PMI Removal Strategy Guide
🏠 PMI Removal Analysis
💰 PMI Removal Triggers
⚠️ PMI Cost Breakdown
🎯 PMI Elimination Strategies
Natural Amortization
Wait for automatic removal at 78% LTV through regular payments.
Extra Principal Payments
Make additional payments to reach 80% LTV faster.
Home Value Reappraisal
Order new appraisal if home appreciated significantly.
💡 Expert PMI Removal Tips
Request removal immediately at 80% LTV - don't wait for automatic
Monitor local market trends for reappraisal opportunities
Even $100 extra monthly can save thousands in PMI costs
Keep detailed payment records for easier removal process
📈 2025 PMI Trends
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Frequently Asked Questions - Pmi
When can I remove PMI from my mortgage?
You can request PMI removal when you reach 80% LTV (loan-to-value ratio) and have made payments for at least 2 years. Automatic removal occurs at 78% LTV. You can also remove PMI earlier with a new appraisal if your home value increased significantly, or by making extra principal payments to reduce the balance faster.
How much does PMI cost and how is it calculated?
PMI typically costs 0.3% to 1.5% of the loan amount annually, divided into 12 monthly payments. For a $250,000 loan with 0.5% PMI, you'd pay $104/month or $1,250/year. Cost depends on your credit score, LTV ratio, loan type, and lender. Better credit score = lower PMI cost.
Should I make extra payments to remove PMI faster?
Yes, if you don't have high-interest debt and have an emergency fund. Extra principal payments reduce your balance faster, reaching 80% LTV sooner. For example, $200 extra monthly on a $250,000 loan can eliminate PMI 2-4 years early, saving $2,500-5,000 in PMI payments. Compare PMI savings vs alternative investment returns.
What is a reappraisal for PMI removal?
A reappraisal determines your home's current value. If your home appreciated and the new value shows 80% LTV or less, you can request PMI removal immediately. Appraisal costs $300-600 but can save thousands if you eliminate PMI years early. Works best in markets with strong appreciation (5%+ annually). Some lenders require a 2-year 'seasoning period'.
Is PMI removed automatically or do I need to request it?
Automatic removal occurs at 78% LTV based on the original amortization schedule. But you can request removal at 80% LTV if: you've made payments for 2+ years, have good payment history, no second mortgages, and meet lender requirements. Always request removal at 80% - don't wait for 78% automatic.