Which Loan Type? 
Property
Purchase Price 
Current Value 
First Payment Date 
Today's Date
01/01/00
Number of Payments Made 
0
Original Loan Amount 
Interest Rate 
APR: 0.000%
Term 
Monthly P&I Payment 
$0,000.00
Original LTV Ratio 
00.00%
MI/PMI Factor 
Monthly MI/PMI Cost 
$00.00
Current Loan Balance 
$000,000
Your Current Loan to Value Ratio based on Purchase Price 
00.00%

You are not yet eligible to cancel PMI, as your loan balance is still too high.

You may now be eligible to cancel PMI. Contact loan servicing as shown on your monthly statement.

Your Loan to Value Ratio based on Current Value 
00.00%

Your balance is still too high to cancel PMI, yet there may still be options to save vs. your current costs.

Based on your estimate of current value, you may be eligible to request cancellation of PMI - an appraisal may be required.

To request cancellation of PMI based on your existing loan terms with the current estimated value, your balance needs to reach $000,000. This is a reduction of $0,000 from your current calculated loan balance. You should reach 80% Loan to Value in 0.0 more years, which will be on 01/01/00.
Based on your current projected value, your balance is now $0,000 lower than required. You are now eligible to request cancellation of your PMI insurance. An appraisal may be required.
Based on your original price, PMI should be canceled automatically upon reaching 78% Loan to Value, which equals a balance of $000,000. This is a reduction of $0,000 from your current calculated loan balance. You should reach 78% Loan to Value in 0.0 more years, which will be on 01/01/00.
How Many Years Does PMI Usually Last? 
PMI Duration Years @ Years @ Years @ Years @ Years @ LTV Averages
Interest Rate 3.00% 4.00% 5.00% 6.00% 7.00%
97% LTV 8.4 9.3 10.3 11.4 12.5 10.4
95% LTV 7.8 8.7 9.7 10.7 11.8 9.7
90% LTV 6.0 6.7 7.6 8.5 9.5 7.7
85% LTV 3.8 4.3 5.0 5.8 6.6 5.1
Rate Level Averages 6.5 7.3 8.2 9.1 10.1
Overall Average 8.2

If you're not yet able to cancel PMI based on your current loan balance, there may still be options to help. The most obvious, yet often the hardest, is to pay a lump sum toward your balance to lower it to the required amount.

Paying extra toward principal every month to lower your balance (and your interest expense) is a good alternative too, as you'll more quickly get to the loan balance required to cancel PMI.

Always remember that the rules for canceling PMI can sometimes be complicated and can also vary based on your loan, record of payment, number of payments made, current value vs. original value, etc.

Refinancing into a new loan will often offer the most choice and potential for added benefits through rate and loan term adjustments. My consultation is always free, and I'm happy to help you discover what might be available for you.