finance calculator
PMI Drop Date Calculator
Estimate when your mortgage balance will hit the PMI cancellation LTV threshold and the calendar date that may happen.
Results
- Monthly principal & interest
- $2,158
- Months until PMI drop
- 103
- Estimated PMI drop date
- 2034-07-24
- Balance at drop
- $311,870
- LTV at drop
- 77.97%
How to use this calculator
- Enter home value, loan amount, rate, term, and your PMI drop LTV target.
- Optionally set a start date; otherwise today is used.
- Review months until drop, estimated date, balance, and LTV at that time.
Inputs explained
- PMI drop LTV
- Typically 78% for automatic cancellation; 80% for borrower-requested (varies by servicer).
- Start date
- Date the loan began; used to approximate the calendar drop date. Leave blank to use today.
How it works
Monthly principal & interest is calculated from loan amount, rate, and term.
We amortize month by month until the balance reaches the entered PMI drop LTV threshold of your home value.
We add the month count to the start date (or today) to estimate the drop date.
When to use it
- Estimate when PMI could be removed based on scheduled amortization.
- Plan extra payments to hit the drop LTV sooner (extra payments not modeled here).
Tips & cautions
- Actual PMI removal depends on servicer rules, appraisal, and payment history. This is a schedule estimate only.
- If you plan extra principal payments, run a more detailed amortization including extras.
- Assumes fixed-rate loan, no extra payments, and constant home value.
- Does not handle escrow/insurance; focused on P&I and LTV timing.
Deep dive
Estimate when your mortgage hits the PMI cancellation LTV with months until drop, drop date, balance, and LTV at that point.
Enter loan amount, rate, term, home value, and PMI drop LTV to see when you might remove PMI.
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