The Homeowners Protection Act of 1998 requires Caliber Home Loans to send borrowers with PMI an annual written statement informing you of your right to cancel or terminate PMI.

If you have a loan with private mortgage insurance, we follow HPA guidelines and will auto-terminate when your loan to value reaches 78% based on your original amortization schedule. However, you have the right to request PMI removal at any time. Please read the requirements and follow instructions on how to submit an MI Removal Request form to Caliber. If you would like to see if you may qualify for cancellation online, please follow the steps below.

Steps to Request PMI Removal:

1. Log in to your account.
2. Click Escrow.
3. Click Mortgage Insurance.
4. Click the MI Removal Eligibility button.
5. Follow the instructions on the MI Removal Request form to submit the request to Caliber.

If you are unable to process the request online, please contact Caliber Home Loans at 1-800-401-6587 or send a written request to Caliber Home Loans Inc. PMI Department, P.O. Box 272556, Oklahoma City, OK 73137-2556. We will review your loan account to determine if you meet the requirements for mortgage insurance removal. Please allow 30 days for us to complete our review.

If your mortgage is a single family, primary residence and the balance of your mortgage is first scheduled to reach 78% of the original value of the secured property (based solely on your initial amortization schedule), your monthly PMI costs will be removed from your loan. PMI also terminates automatically at midpoint of your contract terms as long as your loan is current and you have a good payment history.