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Loan-to-Value Calculator for PMI

Loan-to-value for PMI is simply outstanding balance divided by original value at closing. The Homeowners Protection Act names 80% for a borrower-requested cancellation and 78% for automatic termination on the original payment schedule.

Worked example: $380,000 purchase, $375,000 appraised (original value $375,000), $342,000 loan at 6.125% for 30 years. At closing LTV is 91.2%. The table shows which payment month each threshold arrives if you pay only scheduled amounts.

A separate appraisal-based cancellation path exists when home prices rise, but that math is not the same as these statutory dates. The optional estimated value field is only there to remind you to ask your servicer about that process; it does not recalculate the 80% or 78% rows. Controls below enter balances and download a printable LTV worksheet. Not financial advice.

Your loan numbers stay in your browser. We never see them, and nothing is saved.

Scope

Scope: private mortgage insurance on conventional loans, US, single-family primary residence, under the Homeowners Protection Act (HPA). FHA and VA loans follow different rules — see loan type selector.

Original value (lesser of purchase price and appraised value): $375,000.00

80% cancellation request: Month 98 — actual balance, extras count

78% automatic termination: Month 112 — scheduled balance, extras ignored

Midpoint backstop: Month 180 (original 30-year term)

Today's estimated value ($450,000.00) is shown for reference only — LTV milestones use original value. Some servicers cancel PMI earlier when a new appraisal shows appreciation or improvements. That is not an HPA right — investor guidelines vary, seasoning applies, and you pay for the appraisal. This tool does not put a date on that path.

This is an estimate for planning, not financial advice.

Schedule rows around milestones

MonthBalanceLTVMilestone
96$300,953.3280.25%
97$300,411.4180.11%
98$299,866.7379.96%80% request (actual balance, extras count)
99$299,319.2779.82%
100$298,769.0279.67%
110$293,109.6278.16%
111$292,527.6778.01%
112$291,942.7577.85%78% automatic (scheduled balance, extras ignored)
113$291,354.8477.69%
114$290,763.9377.54%

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Cancellation request checklist

  • Written cancellation request to your servicer (certified mail recommended)
  • Proof of good payment history on the loan
  • Evidence the property has not declined in value (servicer may require an appraisal at your cost)
  • Confirmation there is no subordinate lien on the property
  • Loan number, property address, and contact information in the letter

LTV worked example

Worked example: original value $375,000, starting loan $342,000. Starting LTV is 91.2%. Scheduled payments alone reach 80% LTV ($300,000 balance) around month 88 and 78% LTV ($292,500 balance) around month 102 if rate stays 6.125%. Paying an extra $150 principal monthly might reach 80% by month 81 but still leaves the 78% automatic month on the original amortization unless you refinance.

Loan-to-value FAQs
How is loan-to-value calculated for PMI?
Divide the outstanding balance by original value at closing (usually the lesser of purchase price and appraised value). Current market price is not in that fraction unless you pursue a separate appraisal cancellation.
What is the difference between 80% and 78%?
At 80% you may request cancellation. At 78% on the original payment schedule, PMI must end automatically even if you never called the servicer.
Why is estimated value optional in the controls?
It reminds you to ask about appraisal-based cancellation. It does not recalculate the 80% or 78% rows, which always use original value.

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