As indicated in the PMI disclosure you received when you closed your mortgage loan, PMI can be canceled under the following circumstances:

Borrower request at 80% of original value*:

You may request that PMI be canceled when the principal balance of your mortgage loan reaches or is first scheduled to reach, 80 percent of the original value. The following conditions must be satisfied: 

  • you submit a written request for cancellation to:
    Attn: Loan Servicing
    322 E. Capitol
    Springfield, IL 62701
  • you have a good payment history; and
  • you are current on payments; and
  • you satisfy, at your expense, any requirement we might have for:
    • documenting that the value of the property has not declined below the original value; and
    • certifying that equity in the property is not subject to a subordinate lien.

Automatic termination at 78% of original value*:

If you are current on your loan payments, PMI will automatically terminate on the date that the principal balance of your loan is first scheduled to reach 78% of the original value of the property.
If you are not current on that date, PMI will automatically terminate on the first day of the first month following the date that you again become current.

If you have any questions about PMI, please contact Loan Servicing at 217-747-5888.

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*original value means the lesser of the contract sales price of the property or the appraised value of the property at the time the loan was closed.