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PMI Removal: Ask Your Servicer Before Assuming You Need a Refinance | October 14, 2026
← Paul’s main website · Realtor & Builder Knowledge Center
Published October 14, 2026 · Homeowners
By Paul Singh, Senior Mortgage Advisor · NMLS #406332
Educational guide. Sources checked October 14, 2026. Publication today does not mean a rule changed today.
Identify the insurance and the loan
Private mortgage insurance, or PMI, is not the same as FHA mortgage insurance. The CFPB describes cancellation rights for many covered conventional mortgages on single-family principal residences. Lender-paid insurance and other loan types can follow different rules. Start with your statement and original disclosures.
Two common milestones
For covered loans, a borrower can generally request cancellation when the balance is scheduled to reach 80% of original value, or reaches that level through additional principal payments, subject to conditions. Automatic termination generally occurs at the scheduled 78% point if the borrower is current. These are not blanket rules based on any online estimate of today’s value.
Ask about the actual requirements
Request your servicer’s written process, the applicable dates and any evidence required. Payment history, current status, junior liens and property-value evidence can matter for a requested cancellation. Investor rules may provide other routes, but do not assume that appreciation alone immediately removes PMI.
Compare before replacing the loan
Ask your servicer whether removal is possible on the existing mortgage, then compare that answer with any refinance proposal. Keep a record of the response and expected cost. Paul can help discuss the financing comparison, while the servicer determines the cancellation process for your current loan.
Sources and next steps
- CFPB: when can PMI be removed?
The practical checklists above are suggested discussion points. Agency guidance applies to the specified program; individual lender terms and eligibility can differ. Linked lender examples are educational references, not a statement that every listed program is available through Paul or an endorsement by a government agency.
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General education, not a commitment to lend, rate quote, approval or personalized financial, legal or tax advice. Loans are subject to credit, property and underwriting review and applicable availability. Paul Singh · NMLS #406332 · Petra Cephas Inc. · NMLS #1222300 · Mortgage broker, not a lender. Equal Housing Opportunity.