PMI Removal Checklist: What You Need Before Calling Your Servicer

A PMI cancellation request goes much more smoothly when you walk in prepared. Servicers move slowly on incomplete requests and quickly on complete ones. Here's everything to have ready before you contact yours.

1. Your Loan Details

• Your loan or account number.
• Your servicer's name and the correct department or contact for PMI cancellation.
• Your current loan balance, from your latest statement or online account.
• Your loan type — conventional (PMI) versus FHA (MIP); the rules differ.

2. Your Equity Position

• A realistic estimate of your home's current market value.
• Your estimated loan-to-value ratio — current balance divided by current value.
• The original purchase price, since automatic termination is based on it.
• Recent comparable sales in your area, if you have them, to support your value estimate.

3. Your Payment History

Servicers typically require a good recent payment history. Be ready to confirm you're current and have no recent late payments — most servicers check this before approving a request.

4. Improvement Documentation (If Applicable)

If you've made major home improvements that raised your value, gather contracts, invoices, permits, receipts, and before-and-after photos. This documentation can support a request and may help with seasoning rules.

5. Questions to Ask the Servicer

• What is your seasoning requirement before a current-value request?
• Do you accept a BPO, or is a full appraisal required — and what does it cost?
• What form or written format do you require for the request?
• How long does processing take, and how will I be notified?

The Bottom Line

Preparation is what separates a request that sails through from one that stalls. Gather your loan details, equity figures, payment history, and any improvement documentation before you call — and keep a record of everything from the first contact.

Or skip the legwork entirely. PMI Ninja gathers what's needed, confirms your servicer's requirements, submits the request correctly, and follows up until PMI is confirmed removed — so you don't have to manage the checklist yourself.