Yes — conventional PMI is usually canceled automatically by 78% LTV when your loan is current. See how the rule works with The 2 Mortgage Guys.
Yes — conventional PMI is usually canceled automatically by 78% LTV when your loan is current. See how the rule works with The 2 Mortgage Guys.
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Yes — on most conventional loans, private mortgage insurance must be automatically terminated by the servicer once the loan reaches 78% of the original property value, as long as you are current on payments.
Federal rules set a hard stop for many conventional PMI policies once equity reaches the required level.
A few situations still need a borrower request or a different strategy.
A little prep prevents PMI from lingering after it should be gone.
If cash flow matters now, do not wait for 78% if you already qualify to request removal.
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Share your original purchase price and current balance — we will estimate your automatic cancelation date and whether you can request removal sooner.
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Steve DeLon NMLS# 202876
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