Private mortgage insurance can help make a conventional home purchase possible with a smaller down payment. Once you own the home, it is reasonable to ask when that monthly cost can end.
For Atlanta homeowners, the answer starts with identifying the mortgage insurance on the loan. Conventional borrower-paid PMI follows different rules from FHA mortgage insurance or lender-paid coverage.
Identify the coverage first
Review your mortgage statement and closing documents. If you are unsure, ask the servicer whether you have borrower-paid PMI and which cancellation rules apply.
Do not assume an online PMI calculator applies to your loan. A refinance, unusual loan structure, or different insurance type can change the answer.
Understand the common thresholds
For many covered mortgages, you can request PMI cancellation when the principal balance reaches 80% of the home’s original value, subject to conditions. Generally, automatic termination occurs when the balance is scheduled to reach 78% of original value and payments are current.
Original value is generally the lower of the purchase price or original appraisal for a purchase loan. Those rules do not mean a recent online home-value estimate automatically removes PMI.
Ask about the conditions
Request the servicer’s requirements in writing. A borrower-requested cancellation can involve a written request, satisfactory payment history, current payments, no junior liens, and evidence that the property’s value has not declined.
Some investor rules allow cancellation based on current value under separate conditions. Ask whether that route applies and which valuation process the servicer accepts.
Do not order your own appraisal prematurely
An appraisal obtained independently may not satisfy the servicer’s process. Before paying for one, ask who must order it, what it costs, and what other requirements need to be met.
Also ask how property improvements, ownership duration, and your payment history affect any current-value review.
Compare extra payments with your other needs
Additional principal payments may help you reach an eligible cancellation point sooner. However, using savings to reduce the balance should be weighed against your emergency fund and other obligations.
Confirm how a payment must be designated so it reduces principal. Request the updated cancellation schedule afterward rather than assuming it changed.
For help understanding the mortgage-insurance structure when buying or reviewing a future refinance in Atlanta, contact Anthony Davis at Reliant Mortgage. Your existing servicer is the source for a formal PMI cancellation decision.
Educational information only; not a commitment to lend. Eligibility, terms, documentation, and approval depend on the borrower, property, program, and lender.
Sources reviewed October 2, 2026