According to federal law,private mortgage insurance on most loans currently made ends automatically once the mortgage is paid down to 78% of the original value of the house.

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This is true according to the Homeowners Protection Act (HPA) of 1998. Once the mortgage is paid down to 78% of the original value of the house, the borrower has the right to request cancellation of PMI. However, if the borrower does not request cancellation, the PMI will automatically terminate once the mortgage balance reaches 78% of the home's original value based on the loan's amortization schedule.

According to Federal Law,private Mortgage Insurance on Most Loans Currently