1. What is PMI End Balance?

PMI (Private Mortgage Insurance) End Balance refers to the loan balance threshold at which PMI can be cancelled. This typically occurs when the loan-to-value ratio reaches 78% of the original property value.

2. How Does the Calculator Work?

The calculator uses the PMI End Balance formula:

Where:

• Original Loan — The initial mortgage amount ($)
• 0.78 — The 78% loan-to-value ratio threshold

Explanation: This calculation determines the loan balance at which you can request cancellation of PMI payments based on the original property value.

3. Importance of PMI Cancellation

Details: Cancelling PMI can significantly reduce your monthly mortgage payments once you've reached sufficient equity in your home, typically at 78% loan-to-value ratio based on the original purchase price.

4. Using the Calculator

Tips: Enter your original loan amount in dollars. The calculator will determine the balance at which you can request PMI cancellation.

5. Frequently Asked Questions (FAQ)

Q1: When can I request PMI cancellation?
A: You can typically request PMI cancellation when your loan balance reaches 80% of the original property value, and it automatically terminates at 78%.

Q2: Does this apply to all mortgage types?
A: PMI cancellation rules apply to conventional loans. FHA loans have different mortgage insurance requirements.

Q3: What if my home's value has increased?
A: If your home has appreciated, you may be able to cancel PMI earlier by getting a new appraisal showing sufficient equity.

Q4: Are there timing requirements for PMI cancellation?
A: Most lenders require at least 2 years of on-time payments before considering early PMI cancellation based on property appreciation.

Q5: What documentation is needed for PMI cancellation?
A: Typically需要提供贷款支付历史、财产评估（如果基于增值），并满足贷款人的具体要求。