If Chase services your mortgage, you can cancel PMI without refinancing once you have the equity. Chase runs PMI cancellations through a dedicated department, publishes its own removal guidance, and will tell you in writing exactly what it needs — which makes the process more predictable than at some servicers, as long as you ask the right way.
Servicer policies, fees, forms, and phone numbers change over time. Use this as a general guide and confirm the current requirements directly with Chase before you act.
Step 1: Confirm You Have the Equity
Start with your loan-to-value ratio: your current principal balance divided by your home's value. Chase will automatically terminate PMI when your balance is scheduled to reach 78% of the home's original value (or when the loan hits its midpoint), but you don't have to wait for that — you can request cancellation once you reach 80% LTV.
The thing that matters most is whether your home has appreciated. If it has, your real LTV today may be far below what the original payment schedule shows, and that's the basis for an early request.
The 80% line
PMI can be requested below 80% LTV.
Below 80%
You can request PMI cancelation in writing.
At 78% (scheduled)
By law, your servicer must remove PMI.
Step 2: Know Which Value Standard Applies to You
This is the part most homeowners miss. Chase's current-value requirements depend on how long you've owned the home and whether you've made improvements:
- Made substantial improvements: 80% LTV or lower can qualify at any time, even in the first two years.
- No improvements, owned 2 to 5 years: you generally need 75% LTV or lower.
- No improvements, owned 5 years or more: 80% LTV or lower.
These thresholds come from Chase's published PMI guidance and follow standard investor (Fannie Mae and Freddie Mac) rules. If you're early in the loan and relying on appreciation alone, the 75% bar is the one to plan around.
Step 3: Submit Your Request to the PMI Department
Contact Chase's PMI department to start the request. You can call or send a written request, and Chase will respond with a letter spelling out the specific requirements for your loan:
Chase PMI Department Phone: 1-800-848-9136 Mail: Chase, Attn: PMI Department, P.O. Box 24726, Columbus, OH 43224
Put your request in writing where you can. Include your full name as it appears on the loan, your loan number, the property address, and a clear statement that you're requesting PMI cancellation based on current value. Keep a copy and note the date you sent it.
Step 4: The Valuation
Chase will order a property valuation to confirm your LTV — either a Broker Price Opinion (BPO) or a full appraisal — and the cost is yours. A full appraisal commonly runs $350 to $550; a BPO, where Chase allows it, is usually cheaper. Don't order your own appraisal: Chase uses its own approved vendors, so one you arrange won't count.
To request cancellation, Chase generally expects a clean recent payment record — no payments 30 or more days late in the last 12 months, and none 60 or more days late in the last 24 months. You also need to be current at the time of the request.
Step 5: Follow Through to Confirmation
Once the valuation is in, your request moves to review. If it confirms you're at or below the required LTV, Chase removes PMI and it stops showing up in your payment. Follow up if things go quiet, document every call, and ask for written confirmation once PMI is gone.
Typical removal timeline
Most cases close in 30–60 days.
- 1
Day 1
Intake
You answer 5 questions
- 2
Week 1
Comps reviewed
We confirm eligibility
- 3
Weeks 2–4
Appraisal
Licensed valuation ordered & completed
- 4
Weeks 4–8
Lender filing
Formal cancelation submitted to servicer
- ✓
Week 8
PMI gone
Your next statement drops by the full PMI amount
The Bottom Line
Chase's process is well-defined: confirm your equity, figure out whether the 75% or 80% standard applies to you, send a clean written request to the PMI department, and pass the valuation. The most common reasons people stall are aiming at the wrong LTV threshold and giving up when the request goes quiet.
PMI Ninja manages Chase cancellations from start to finish — confirming which value standard applies, steering toward the lowest-cost valuation Chase will accept, and following up until PMI is confirmed removed.
Want us to handle your Chase PMI removal? Start the free check below — we'll tell you whether your equity supports cancellation before you spend a dime on a valuation.
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