How to Cancel PMI: 80%, 78% & Midpoint

The short answer

To cancel PMI, send your mortgage servicer a written request once your loan balance is scheduled to reach 80% of your home’s original value, or once you’ve paid it down to that point. You also need a good payment history, current payments, no second mortgage or other subordinate lien, and possibly proof that the home’s value hasn’t dropped. If you do nothing, federal law generally ends PMI automatically when the balance is scheduled to hit 78%, or the month after your loan’s midpoint, as long as you’re current. FHA mortgage insurance follows different HUD rules.

Start the PMI request letter How to send Certified Mail

When does PMI go away?

Private mortgage insurance is the coverage you may have to buy on a conventional loan with less than 20% down. The CFPB notes that it protects the lender, not you. The Homeowners Protection Act, at 12 U.S.C. 4902, gives you three ways out of it on a covered loan: you ask to cancel it, it ends automatically, or it reaches a final termination date.

All three are measured against your home’s original value and your loan’s amortization schedule, not what the house is worth today. Original value is the lower of the contract sales price and the appraised value when the loan closed; after a refinance, it’s the appraisal the lender relied on for the refinance. The CFPB says the first date you can ask to cancel should appear on the PMI disclosure form you received with your mortgage.

PMI cancellation and termination under the Homeowners Protection Act
Route	When it applies	What you need	Statute
Borrower-requested cancellation	Balance is scheduled to reach 80% of original value, or reaches 80% through actual payments, including extra principal	A written request, a good payment history, current payments, and any value evidence and no-subordinate-lien certification the loan holder requires	12 U.S.C. 4902(a)
Automatic termination	Balance is first scheduled to reach 78% of original value under the loan’s schedule	Be current on that date; if you aren’t, it ends the first day of the month after you catch up	12 U.S.C. 4902(b)
Final termination	First day of the month after the midpoint of the amortization period (15 years into a 30-year loan)	Be current on your payments	12 U.S.C. 4902(c)
High-risk loan exception	Loans classified as high risk at closing; for loans above the conforming limit, PMI ends when the balance is first scheduled to reach 77%	Nothing beyond staying current; the midpoint rule still applies	12 U.S.C. 4902(g)

Does the PMI cancellation law apply to your loan?

According to the CFPB, these federal rules cover mortgages on single-family principal residences that closed on or after July 29, 1999. The Act’s definition of private mortgage insurance excludes insurance under the National Housing Act, which covers FHA loans, title 38, which covers VA loans, and title V of the Housing Act of 1949, which covers USDA rural housing loans. Those programs follow their own rules. The CFPB also says different rules apply if your lender pays for your mortgage insurance.

If you and your lender modify the loan, the statute says the cancellation, termination, and midpoint dates are recalculated to match the new terms. Loan owners such as Fannie Mae and Freddie Mac often set their own cancellation guidelines, which the CFPB says can’t be less favorable to you than the federal rules.

State law can matter too. Section 4908 keeps certain older state PMI laws, from states that had one on January 2, 1998, in effect where they require earlier termination or more disclosure. Rules vary by state, and this article is general information, not legal advice.

How do you request PMI cancellation at 80%?

You can ask on the date your balance is scheduled to reach 80% of original value, or earlier if extra payments got you there. Under 12 U.S.C. 4902(a), PMI must be canceled once you meet all of these conditions:

Send your servicer a request in writing. The statute’s deadlines are counted from the date the servicer receives it.
Have a good payment history. Section 4901 defines it as no payment 30 or more days late in the 12 months before the later of your cancellation date or your request, and none 60 or more days late in the 12 months before that.
Be current on your payments.
Certify, if the loan holder requires it, that your equity isn’t encumbered by a subordinate lien. The CFPB gives a second mortgage as an example.
Show, if the loan holder requires it, that the home’s value hasn’t fallen below the original value. The servicer must tell you what kind of evidence it accepts promptly after it receives your request; the CFPB names an appraisal as an example.

How do you calculate your loan-to-value ratio for PMI?

Divide the principal balance on your latest mortgage statement by your home’s original value, then multiply by 100. Here’s a fictional example. Dana Ortiz bought a house in 2021 under a $350,000 contract, and it appraised at $356,000. She put 5% down and took a 30-year fixed-rate loan for $332,500.

Dana can ask to cancel once her balance reaches $280,000, either on the scheduled date or sooner by paying $4,500 in extra principal.
If she never asks, PMI ends on the date her original schedule first shows $273,000, as long as she’s current. That date is set by the schedule regardless of her actual balance, so extra payments don’t move it.
Either way, PMI can’t continue past the first day of the month after her loan’s midpoint, 15 years in, if she’s current.

Fictional example: PMI thresholds on a $350,000 original value
Measure	Calculation	Result
Original value	Lower of the $350,000 price and the $356,000 appraisal	$350,000
Starting loan-to-value	$332,500 ÷ $350,000	95%
Balance needed to request cancellation (80%)	$350,000 × 0.80	$280,000
Balance for automatic termination (78%)	$350,000 × 0.78	$273,000
Loan-to-value today with a $284,500 balance	$284,500 ÷ $350,000	81.3%
Extra principal to reach 80% now	$284,500 − $280,000	$4,500

Can you remove PMI because your home’s value went up?

Not under the federal rules alone, because they use original value. But the CFPB notes that some lenders and servicers allow removal under their own standards, and loan owners such as Fannie Mae and Freddie Mac set their own guidelines.

Fannie Mae’s Servicing Guide is one example. For loans it owns, a servicer may end PMI based on current value only when the borrower asks, using a valuation based on an interior and exterior inspection. For a one-unit principal residence or second home, the loan-to-value must be 75% or less if the loan is two to five years old, or 80% or less after five years. It also requires an acceptable payment record: current, with no payment 30 or more days late in the last 12 months and none 60 or more days late in the last 24.

If a new valuation put Dana’s home at $420,000, her loan-to-value would be $284,500 ÷ $420,000, or 67.7%, under both limits. To learn which rules apply, find out who owns your loan. The CFPB says your servicer must tell you, to the best of its knowledge, the owner’s name, address, and phone number.

What should a PMI cancellation letter include?

The statute requires a written request but no particular form, so keep the letter short and specific. Use the name on the loan and include these details:

Your name, the property address, your mailing address, and a phone number.
Your loan number. Leave out your Social Security number and bank account numbers.
A one-sentence request to cancel private mortgage insurance under the Homeowners Protection Act, 12 U.S.C. 4902(a).
Your basis: the scheduled 80% date from your PMI disclosure, or your current balance and the loan-to-value calculation.
A statement that your payments are current and that there are no subordinate liens on the property.
A request that the servicer tell you what evidence of value it requires and confirm the cancellation in writing.
The date and your signature.

12 U.S.C. 4902: Termination of private mortgage insurance

How do you send a PMI cancellation request with proof?

Send the letter to the address your servicer gives for these requests. Under 12 U.S.C. 4903, the servicer must send you an annual written statement of your cancellation rights, with an address and phone number you can use to ask whether you can cancel. If you can’t find it, call and ask where written PMI requests go.

Since the statute’s 30-day deadlines run from receipt, mail the request in a way that proves it arrived. USPS Certified Mail gives you a mailing receipt and delivery status, and USPS keeps a delivery record that includes the recipient’s signature. Buy a return receipt when you mail it if you want that record sent to you. Certified Mail travels as ordinary mail and includes no insurance.

Keep a copy of the signed letter, the mailing receipt, and the tracking or return receipt together, and note the delivery date for counting the 30 days.

USPS options for a one-ounce letter, prices in effect since July 12, 2026 (Notice 123)
Option	Price	What you get
First-Class Mail stamp only	$0.82	Delivery, with no receipt or tracking
Certified Mail	$5.55 plus postage ($6.37 total)	Mailing receipt, delivery status, and a USPS delivery record
Certified Mail with electronic Return Receipt	$5.55 + $2.91 plus postage ($9.28 total)	Evidence of delivery (who received it and when), emailed to you
Certified Mail with hardcopy Return Receipt	$5.55 + $4.65 plus postage ($11.02 total)	The same evidence on PS Form 3811, the green card, mailed back to you

What happens after you send the request?

Once you qualify, the servicer can’t charge PMI premiums more than 30 days after the later of the date it received your request or the date you met its evidence requirements. It must return any unearned premiums within 45 days of cancellation or termination, under 12 U.S.C. 4902(e) and (f).

Within 30 days after PMI ends, 12 U.S.C. 4904 requires the servicer to tell you in writing that it has ended and that no further premiums are due. If it decides your loan doesn’t qualify, it must send written notice of the reasons, including the results of any appraisal it used. That notice is also due within 30 days of the later of receiving your request or your meeting the evidence requirements.

If the servicer doesn’t respond or you disagree with its decision, you can submit a mortgage complaint to the CFPB, which sends complaints to companies for a response. Results depend on your loan and your situation, so consider talking to an attorney for advice about a specific dispute.

How is FHA mortgage insurance different from PMI?

FHA loans carry a mortgage insurance premium, or MIP, rather than PMI, and the Homeowners Protection Act’s request-and-terminate rules don’t apply to them. The CFPB says to contact your servicer about mortgage insurance on an FHA or VA loan.

HUD says that for FHA case numbers assigned on or after June 3, 2013, under Mortgagee Letter 2013-04, how long you pay annual MIP depends on your loan-to-value at origination. For older case numbers, HUD says MIP generally ran until the balance reached 78%, with at least five years of payments on loans longer than 15 years.

FHA annual MIP duration, case numbers assigned on or after June 3, 2013 (HUD)
Loan-to-value at origination	Loan term 15 years or less	Loan term over 15 years
90% or less	11 years	11 years
Over 90%	Full loan term	Full loan term

Can IRIS mail your PMI cancellation request?

Yes, as a printed letter. IRIS is an independent print-and-mail service, not USPS or your servicer. Its PMI cancellation request template asks your servicer to review whether PMI can be canceled and identifies your loan and supporting facts. You enter your details in a browser editor and review the generated letter, then download it or continue to mailing. The draft stays in your browser tab until you choose to continue. You can also upload your own US Letter-size PDF.

IRIS prints the letter and mails it by USPS First-Class Mail to a US address. A one-page black-and-white letter costs $3.20. Certified Mail adds $6.95, for $10.15 total on one page, for letters up to six sheets, with tracking on your order page. An electronic Return Receipt adds $2.91 and is available only with Certified Mail. You review the document, addresses, options, and total before paying.

IRIS can’t enclose originals or other physical items, and it doesn’t offer the hardcopy green card. If your servicer insists on its own form with a handwritten signature or notarization, a printed PDF can’t supply that, so mail that form yourself. Order status isn’t proof of delivery.

Sources & further reading

Product details checked against the IRIS API contract when this article was published. Platform references can change; consult the linked documentation when implementing.

Published by IRIS Postal Forms, operated by Great Lakes Computing Office LLC. Send a correction.

Put it into practice

Ready to put your PMI request in writing?

Draft your request with the IRIS PMI cancellation template, then have IRIS print it and mail it by USPS First-Class Mail for $3.20 a page. Add Certified Mail for $6.95 to get tracking on your order page.

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