Conventional Loan PMI Removal Rules (2026)

Quick answer

For conventional loans, you can request PMI removal at 80% LTV if payment history and loan conditions are clean. Lenders must automatically remove PMI at 78% LTV based on the original amortization schedule, as long as the loan is current.

80% vs 78%: what changes?

• 80% LTV: You request removal and may need documentation or appraisal support.
• 78% LTV: Lender must remove PMI automatically when requirements are met.
• Midpoint rule: PMI must also end at midpoint of amortization if still active and loan is current.

Common lender conditions in 2026

• On-time payment history (often no 30-day lates in last 12 months)
• No subordinate liens/second mortgage issues
• Owner-occupied condition may be required for simpler processing
• Appraisal or automated value verification for value-based requests

When appraisal is usually needed

If you are requesting removal because the property appreciated (not just because your scheduled balance fell), lenders often require a new valuation. In many markets that means paying for an appraisal and meeting a minimum seasoning period.

Step-by-step PMI removal request

1. Check your current principal balance from the latest statement.
2. Estimate current LTV using recent value assumptions.
3. Call servicer and request their PMI cancellation criteria in writing.
4. Order valuation/appraisal if required.
5. Submit written request with supporting documents.
6. Verify next statement to confirm PMI line item is removed.

How to model your timeline

Use the PMI calculator for monthly PMI impact and the extra payment calculator to test how additional principal payments move your 80% date sooner.

FAQ