Homeowners Protection Act · 80% LTV
Put less than 20% down? You're likely paying PMI — $1,500–$2,500 a year. A free one-minute check tells you if you're in range to drop it. No credit pull, no SSN.
$1,500–$2,500/year
Put less than 20% down on a conventional loan and you're almost certainly paying PMI. Once your balance reaches 80% of the home's original value (or appreciation gets you there), the Homeowners Protection Act lets you ask your servicer to cancel it.
Worth checking
If your home gained value, you may be under the 80% line years before your payments alone would get you there. We do the math and watch for the month it does.
Refi to drop MIP
Most FHA loans taken after 2013 carry mortgage insurance for the life of the loan — unless you put 10% or more down, in which case it drops off after 11 years. Otherwise the way off is refinancing into a conventional loan. We'll tell you which case you're in and whether that move actually pencils out.
No cut taken
Services that cancel PMI for you take about a quarter of your first-year savings. We draft the same letter and watch the same numbers — you send it and keep all of it.
Cost and savings figures are estimates. PMI ranges reflect published CFPB and Freddie Mac data (0.58–1.86% of the loan per year); property-tax and exemption ranges are TrueOwn estimates. Actual savings depend on your loan, the company that services it, and your current home value. TrueOwn outputs are estimates and drafts, not legal or financial advice.
See which apply to your homeThree steps. About a minute. Free during pilot.
We pull your home's value, recent nearby sales, and your tax history from public records.
No account, no credit check, just the address.
PARCEL 30-4209-001-0250
Miami-Dade County
Tax roll · 2025
Down payment, interest rate, the year you bought, and the company that bills you each month. About thirty seconds.
Rough numbers are fine — nothing to link, nothing to download.
Mr. Cooper
Loan ••4821
A one-pager of what looks worth chasing — dropping mortgage insurance, lowering your property taxes, refinancing — with a draft letter to your servicer if there's something to send.
Free during pilot. Yours to keep.
Estimate only. TrueOwn doesn't guarantee PMI removal, tax savings, or refi savings. Your servicer, county, or lender makes the final call.
PMI cancellation letter
Addressed to Mr. Cooper
Most mortgages quietly leak money.
Private mortgage insurance protects your lender, not you — and it doesn't come off as fast as it should. You cross the line both by paying down your balance and by your home gaining value, but nobody at your servicer is watching that line for you.
TrueOwn runs the loan-to-value math every month, tells you the day you're in range, and drafts the cancellation letter for you to send. You keep 100% of what you save.
Grounded in the same federal rules every U.S. servicer already follows: HPA and RESPA Regulation X.
Outputs are estimates and drafts — not legal or financial advice. Every signal links back to the data we read so you can decide what to do with it.
One dashboard, checking your loan every day. Here's what'll make it ping you.
A higher home value can put you in range to request PMI removal sooner than your payments alone would. We catch it as soon as it does.
Every payment chips at your balance. We re-run your loan-to-value each month and tell you as soon as you're in range to ask.
At 78% of the original value, your servicer is supposed to drop PMI automatically. They miss it. We watch the date so you can hold them to it.
If you're stuck on lifetime FHA MIP, we watch rates and your equity for the point a conventional refinance would actually save you money.
Last reviewed
One minute, no card, no credit pull. If you're close, we'll draft the cancellation letter for you to send.
Available to homeowners nationwide.