Your roadmap to dropping private mortgage insurance
Put it in writing
Your next move
Write to the servicer's address for correspondence, not the payment address. Include your name, loan number, property address, the date you believe you reached the threshold, and a request for cancellation or for the servicer's value-based removal process. Keep a copy and send it with tracking.
Last reviewed against the primary sources listed below.
Checklist for your letter
- Your name, loan number and property address.
- Which route: scheduled 80 percent point, extra payments, or value-based removal.
- A request for written confirmation and any requirements.
- Date and signature.
If they do not respond
Servicers must respond to written requests within set time frames under federal servicing rules; see the CFPB complaint page. You can also file a complaint with the CFPB.
PMI questions on the road
How do I ask my lender to remove PMI?
Send a written request to the servicer's correspondence address with your loan details and the threshold you have reached.
Is removing PMI a good idea?
Yes, when eligible, because it lowers your payment and PMI only protects the lender.