Most lenders will take this by phone. Almost none of them move fast on it. To get that, put it in writing. Cite the law. And use the right numbers.
Why it has to be in writing
The Homeowners Protection ActThe federal law that gives you the right to cancel PMI.Click to open the full glossary. gives you a right. Once what you owe hits 80% of what the home was worth, you can ask them to end PMI. But lenders work from a queue, not a hunch. A letter puts you in that queue. It starts their clock. And it gives you proof if things stall.
What to include in your letter
- Your loan number and property address, exactly as they appear on your statement.
- Your current balance and estimate of current value, the two numbers your LTV is based on.
- A citation to the Homeowners Protection Act of 1998. Name the right you are using. Then there is no doubt what you want.
- A request for written confirmation, in writing. They must say yes, or say why not. The usual reasons are late payments, or an appraisal they want first.
The template
[Property address]
[Date]
[Servicer name]
Attn: PMI / Escrow Department
[Servicer mailing address]
Re: Request for PMI Cancellation, Loan #[loan number]
To whom it may concern,
I am writing to ask you to end the PMI on the loan above. I do so under the Homeowners Protection Act of 1998.
My current estimated loan-to-value ratio is approximately [X]%, based on an outstanding balance of [$balance] against an original/current value of [$value]. I am current on my payments and have not had a payment more than 30 days late in the past 12 months.
Please write back to say if you have said yes. If you need more from me, please say what. If you require an appraisal, please send me your approved appraiser list and the cost.
Thank you for your prompt attention to this request.
Sincerely,
[Your name]
Fill in your figure, your balance, and your value first. A letter with the math done moves faster than one that makes the servicerThe company you actually send your payment to.Click to open the full glossary. work it out on their own. These are estimates, not legal or financial advice. Check with your lender.
How to send it (and follow up)
- Check your servicer's preferred channel first. Many take these on their web site. That is faster than the post, and it still leaves a dated record.
- If mailing, use certified mail with a return receipt. It costs a few dollars and gives you legal proof of delivery if the process stalls.
- Follow up in 2–3 weeks if you hear nothing. They must act on a fair request. But a phone call that names your mail receipt tends to speed things up.
- Get the cancellation confirmation in writing and keep it. It is your proof if PMI ever shows up on a bill again by mistake.
"A letter with the math already done gets processed faster than one that makes the servicer calculate it themselves."
Our free PMI drop-date calculator tells you where you stand, and if you can ask yet. Our PMI Kit goes further. It writes this letter for you, with your real numbers in it.
The letter is the easy part. The hard part is knowing when you can ask. And then sending it the month you get there. That is where most owners lose money. We watch your numbers and tell you the day you can ask.
Let CasaCrow write the letter for you
Our PMI Kit writes this letter for you, with your real numbers in it.
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