How to Remove PMI from Your Rocket Mortgage Loan

Rocket Mortgage, formerly Quicken Loans, services almost all the loans it makes. Jumbo loans are the exception. Its parent company, Rocket Companies, reported 9.1 million loans in its servicing portfolio as of June 30, 2026. This page sets out what Rocket's own pages say about removing PMI and how to reach its servicing team. It applies while Rocket services your loan. If your loan has moved to another servicer, that company handles the request.

Mr. Cooper is now part of Rocket Mortgage. Rocket says it services former Mr. Cooper loans, with the same loan numbers and payment details. If your loan was with Mr. Cooper, this page applies to you.

Step 1: Check the Kind of PMI You Have

This guide covers borrower-paid PMI on a conventional loan. Two other kinds of mortgage insurance follow different rules:

• Lender-paid PMI. Rocket's guide says it can't be canceled. You pay for it through a higher interest rate, and it ends only when the loan is refinanced or paid off.
• FHA mortgage insurance (MIP). Rocket also makes FHA loans. They carry MIP, not PMI, and the rules below don't apply.

If you're not sure which kind you have, ask Rocket before you pay for anything.

Step 2: Confirm You Have the Equity

Your loan-to-value ratio is your current principal balance divided by your home's value. Rocket's guide sets out the federal rules and the Fannie Mae and Freddie Mac rules:

• 80% of the original value: you can ask in writing to cancel PMI.
• 78% of the original value: PMI must end automatically on the date your balance is scheduled to reach 78%, as long as you are current.
• The halfway point: if PMI is still on the loan at the midpoint of its original schedule, such as year 15 of a 30-year loan, it must end then, as long as you are current.
• Current value: if your home has gained value, a new appraisal must show 75% or less between years 2 and 5 of the loan, or 80% or less after year 5.

On a purchase, the original value is the lower of the price and the appraised value at closing. On a refinance, it is the appraised value at closing. In the first 2 years, a rise in market value alone is unlikely to be enough. Rocket's guide says major improvements, such as a kitchen remodel or a finished basement, can let a servicer waive the 2-year wait if an appraisal shows 80% or less.

Step 3: Check Your Payment History and Liens

Rocket's guide lists what servicers check before they approve a request:

• You are current on your payments.
• No payment 30 days late in the last 12 months, and none 60 days late in the last 24 months.
• No second mortgage or other lien on the home, such as a home equity loan.
• The home is in good condition, and its value has not fallen below the original value.

Step 4: Call Rocket

Rocket's PMI page tells its clients to call (800) 4-ROCKET to ask how to cancel. Ask what loan-to-value ratio your loan needs, which valuation Rocket accepts, who orders it, what it costs, and where to send your written request. Write down the answers and the name of the person you spoke to.

Step 5: Send the Request in Writing

Rocket's guide says to submit the cancellation request in writing. It says the letter should include:

• Your full legal name and current mailing address.
• Your loan number and the property address.
• A clear request to cancel PMI under the Homeowners Protection Act.
• That your balance has reached 80% of the original value, or that your home has gained value through improvements or the market.

Sign it, keep a copy, and note the date you send it. Rocket lists one address for written servicing requests. Unless Rocket gives you a different address on the call, send it there:

Rocket lists this address for qualified written requests, requests for information and notices of error. Federal servicing rules require a servicer to acknowledge these within 5 business days and to answer most within 30 business days. To get Rocket's PMI requirements in writing, send a request for information to the same address.

Step 6: The Valuation

Rocket's PMI page says an appraisal must verify your home's current value. Its general guide says servicers often ask for a full appraisal or a broker's price opinion. Rocket's public pages don't give the price or say who orders it. Ask before you pay, so you don't pay for a report Rocket won't accept.

If the value comes in short, PMI stays on. Rocket's public pages don't describe an appeal.

If Rocket Says No

Ask Rocket to put the reason in writing. If you think Rocket made a mistake, send a notice of error to the address in Step 5. You can also file a complaint with the Consumer Financial Protection Bureau at consumerfinance.gov/complaint.

You Don't Need to Refinance

If you meet the rules above, you can cancel PMI on the loan you have. Rocket's guide lists refinancing as another way to drop PMI. It puts closing costs at 3% to 6% of the loan amount and says to make sure the PMI savings outweigh them.

The Bottom Line

Rocket tells its clients to call about PMI, and its guide says the request goes in writing. Check the kind of PMI you have, your equity and your payment history first. Get Rocket's valuation requirements before anyone orders an appraisal.

PMI Ninja handles Rocket requests from start to finish, including loans that came from Mr. Cooper. We check your equity before any appraisal is ordered and follow up until Rocket confirms in writing that PMI is removed. We offset the appraisal cost, and nothing is due until your PMI is canceled.