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How long do I have to pay for private mortgage insurance (PMI) on my loan?

If you obtained your loan after July 29, 1999, you can request cancellation of PMI when your loan- to-value (LTV) reaches 80%.

Cancellation requires that you have a good payment history, the property value has not decreased, and you can certify that there are no liens against your property.
Lenders are required (by the Homeowner’s Protection Act of 1998) to terminate PMI at 78% LTV (based on the amortization schedule) if the loan is current or has reached the midpoint of the payoff.