Loan-to-Value Calculator
LTV, CLTV, equity, and PMI removal target.
LTV
80.0%
No PMI required (Conventional)
CLTV (with 2nd)
80.0%
Equity
$90,000
Pay down to drop PMI
$9,000
LTV thresholds
- Below 80% - conventional, no PMI
- 78% - lenders must auto-cancel PMI on conventional loans (HPA 1998)
- 80–95% - PMI required; you can request cancellation at 80%
- 95–97% - HomeReady, HomePossible, FHA loans
- Above 97% - VA loans, USDA in eligible areas, or 2nd mortgages
Lender-paid mortgage insurance (LPMI) bumps your rate but never expires. Borrower-paid PMI is removable. Request cancellation at 80% LTV; lenders must auto-cancel at 78% per the Homeowners Protection Act.
About
Enter property value and loan balance(s). Returns LTV, combined LTV with second mortgage or HELOC, current equity, and how much you need to pay down to drop PMI (auto-cancels at 78% per HPA 1998).
How to use
- Enter property value.
- Enter your mortgage balance.
- Add a second loan if you have one.
FAQ
When does PMI come off?+
Lenders must auto-cancel borrower-paid PMI at 78% LTV (Homeowners Protection Act of 1998). You can request cancellation at 80% LTV with a clean payment history.