If Chase services your mortgage, you can cancel PMI without refinancing — but Chase, like every large servicer, has its own process and its own friction points. This guide walks through what to expect and how to keep your request moving.
Servicer policies, fees, forms, and contact details change over time. Treat the specifics below as a general guide and confirm the current requirements directly with Chase before you act.
Step 1: Know Where You Stand
Before contacting Chase, estimate your loan-to-value ratio: current balance divided by your home's current value. If you're at or below 80%, you likely have grounds to request cancellation. Your Chase statement or online account shows your current balance.
Step 2: Submit a Written Request
Chase generally expects PMI cancellation requests in writing, directed to its mortgage servicing department. A written request creates a record and starts the clock. State your loan number, that you're requesting PMI cancellation based on current value, and ask Chase to confirm exactly what it requires.
Step 3: Expect Seasoning and History Requirements
Chase typically applies seasoning rules — a minimum period of ownership, often around two years — before it will consider a current-value request, along with a clean recent payment history. If you've made substantial documented home improvements, it may be worth asking whether that changes the seasoning requirement.
- A minimum ownership period before a current-value appraisal is considered.
- A good recent payment history with no recent late payments.
- A servicer-ordered valuation to confirm the home's current value.
Step 4: The Valuation
Chase will order a valuation — typically a full appraisal — to confirm your home's value. You'll generally pay this fee, often a few hundred dollars. Ask whether a broker price opinion is acceptable, since that can cost less.
Step 5: Follow Up Until It's Confirmed
The most common failure point is silence after submission. Follow up if you don't hear back, keep notes of every call — date, representative, reference number — and request written confirmation once PMI is removed.
The Bottom Line
Canceling PMI on a Chase loan is very doable: confirm your equity, submit a written request, meet Chase's seasoning and valuation requirements, and stay on top of follow-up.
PMI Ninja handles Chase cancellations end to end — confirming your current requirements, submitting the request correctly, coordinating the valuation, and following up until PMI is confirmed off your payment.
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