How to Get Rid of PMI (2026 Update)

How to get rid of PMI with automatic cancellation

On many conventional loans, PMI goes away automatically when the principal balance reaches 78% of the original home value and your payments are current. That is the most passive way to get rid of PMI. If you have been making only the minimum payment, this can take years. If you make extra principal payments, it can happen sooner. That is why checking your amortization schedule matters when you ask how to get rid of PMI.

How to get rid of PMI by requesting removal

You can often request cancellation when you reach about 80% original LTV. This is the faster answer for many borrowers who want to know how to get rid of PMI before the servicer does it automatically. The request usually needs your loan number, current balance, proof of on-time payments, and sometimes a valuation or appraisal. If the home value has risen since purchase, that extra equity can help you qualify earlier.

How to get rid of PMI with extra payments

One of the most effective ways to get rid of PMI is to pay down principal faster. Even modest extra payments can move the cancellation date forward. For example, paying an extra amount each month can reduce the time to reach 80% LTV, and that means you may stop paying PMI years earlier. If you want the most practical method for how to get rid of PMI, this is often the easiest one to control without changing the loan itself.

How to get rid of PMI with a new appraisal

If your home has appreciated, an appraisal may prove that your LTV is lower than expected. That matters because the answer to how to get rid of PMI is often equity plus documentation. A successful appraisal can support an early cancellation request, especially in markets where home prices have moved up quickly. Always check whether your servicer requires an approved appraisal or a broker price opinion before you order one.

How to get rid of PMI by refinancing

Refinancing can remove PMI if the new loan does not require it. This is helpful when you have enough equity and the new rate or terms still make sense after closing costs. The key is to compare the monthly savings against the refinance fees and the break-even period. If the break-even is short and you also want to know how to get rid of PMI permanently, refinancing may be the best overall move.

PMI removal table

This PMI calculation table gives a simple planning view for common down payment scenarios.

Down payment	Estimated request point	Estimated automatic removal
5% down	10–14 years	12–16 years
10% down	8–11 years	9–12 years
15% down	6–9 years	7–10 years

That table is only a planning guide, but it shows why how to get rid of PMI is mostly an equity question. If you want to shorten the timeline, extra principal payments and appreciation matter more than simply waiting.

How to get rid of PMI step-by-step

1. Check your current mortgage balance and original purchase price.
2. Estimate your LTV using the PMI calculator.
3. Review your servicer's cancellation policy.
4. Collect a mortgage statement and payment history.
5. Request cancellation in writing when you are near 80% LTV.
6. Provide an appraisal if the lender asks for one.
7. Follow up until you receive a written approval or denial.

What can slow down PMI removal?

Even if you are close to the target, PMI can stay on the loan longer if the servicer finds you are behind on payments, if there is a second lien, or if the valuation does not support the amount of equity you expected. That is why how to get rid of PMI is not only about reaching a number. It is also about sending the right paperwork and staying current on the mortgage.

Related guides and tools

• PMI Calculator
• When Does PMI Go Away?
• How Long Do You Have to Pay PMI?
• PMI Cancellation Letter Template
• Conventional PMI Removal Rules

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