Credit & DTI
How do I remove PMI from my conventional loan?
Context
PMI adds to your monthly payment, so knowing when it can come off matters once you have built equity.
The short answer
On conventional loans you can request PMI cancellation once your balance reaches 80% of the original value (with a good payment history), and it typically auto-terminates at 78%.
Things to keep in mind
Home-value gains from appreciation or improvements can qualify you sooner via a new appraisal. FHA mortgage insurance works differently and often requires a refinance.
Next step
DMF can walk you through the path that applies to your loan — contact us to check your options.
Have a question about your own situation?
DMF serves Minnesota homebuyers and homeowners by shopping your purchase or refinance file across multiple wholesale lenders — not a single bank's product menu.
Davis Monroe Financial, LLC is a mortgage broker, not a lender. We do not make credit decisions or fund loans. Rate locks are issued by the lender; we submit and manage lock requests on your behalf. All loans are subject to credit approval. Rates and terms are subject to change without notice.