Drop PMI or check if a mortgage refi actually pays

AI computes your loan-to-value, tells you whether you can request PMI removal (or must reach automatic termination), and compares refi Loan Estimates on total cost.

Realistic savingsIllustrative: PMI often costs ~0.3-1.5% of the loan per year, so $100-$300+/month on many loans. Removal is pure savings.

DifficultyEasy

Time1-2 h

Real-world reports

We haven't yet found a well-documented AI-specific case for this recipe; the savings range above is illustrative. Send us yours.

Tools

ChatGPT, Claude, Gemini or Grok (free tiers work; paid ~$20/mo helps with long files)
Mortgage statement
Loan Estimate(s)

Steps

Find original value, balance and PMI amount.
Ask AI your LTV; at 80% of original value you can request cancellation under the Homeowners Protection Act; it ends automatically at 78% (if current).
If value rose, ask the servicer about removal based on a new appraisal.
For refi: get 3 Loan Estimates the same day and compare total cost and break-even.

Copy-paste prompt

Original price $[X], current balance $[B], PMI $[P]/mo, loan type [conventional/FHA]. When can I request PMI removal and what will the servicer require? Then compare these Loan Estimates [PASTE] by APR, cash to close, and months to break even.

What to verify

FHA MIP rules differ. Confirm with your servicer in writing.

Legal & ethical notes

Not financial advice.

Go deeper on money workflows with AI Money Playbooks: verify-first AI prompts for budgeting, bookkeeping, bills and taxes.

Official sources

Educational only; not legal, tax, medical or financial advice. Laws and prices change; check official sources.

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