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Mortgage Insurance Drop-Off Calculator
Federal Homeowners Protection Act requires lenders to auto-terminate PMI at 78% LTV based on original schedule, or at 80% LTV upon borrower request. This calculator projects when you'll cross that threshold through payments and appreciation.
Auto drop-off month (78% original)
11 yr 3 mo
Requestable drop month (80% current)
4 yr 1 mo
Total PMI paid before auto-drop
$22,110
How the math works
PMI auto-drops at 78% LTV of original value based on scheduled amortization. Appreciation doesn't count for auto-drop but does for requestable drop at 80% current LTV.
Request BPO at year 2-3 if appreciation has been strong; you'll often hit 80% current LTV years before the auto-drop. Save $3K-$8K in total PMI payments.
How to Use
- Enter loan amount, rate, and original home value.
- Add any extra monthly payments and expected annual appreciation.
- See the month PMI drops off and total PMI paid.
Frequently Asked Questions
What's the 78% rule?
Homeowners Protection Act requires PMI auto-termination at 78% of original value based on scheduled amortization — regardless of actual home value. Borrower must be current. Lender acts automatically.
Can I request earlier termination?
Yes at 80% LTV based on current appraised value. Requires BPO or appraisal ($100-$500), written request, and being current on payments. Some lenders require 2 years seasoning first.
Does FHA MIP drop off?
No — FHA loans originated after June 2013 have permanent MIP on loans above 90% LTV (auto-drops at 10% down only). Most FHA borrowers refi to conventional to eliminate MIP after building 20% equity.
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