Private Mortgage Insurance (PMI) Deletion Requirements

Private Mortgage Insurance (PMI) is Mortgage Insurance for a Conventional Loan.  This insurance protects Fidelity Bank in the event of default. PMI is different than Mortgage Insurance (MIP) coverage on FHA-insured loans, or VA/USDA guarantee. For information relating to MIP deletion, please contact us at 1-888-248-LION (5466), option 6. 

PMI early termination requirements depend on the loan type, occupancy, loan age, and property valuation. If no action is taken, PMI will automatically terminate when the principal balance of the mortgage is first scheduled to reach 78% of the original value1 of the property, based on the original amortization. If the loan is not current at that time, the PMI will be removed once the loan comes current. 

Generally to delete PMI early, Fidelity Bank will order an appraisal at the borrower's cost to obtain the current value of the property. 

PMI Frequently Asked Questions

In order to obtain information on your investor, please contact our Customer Service Department at 1-888-248-LION (5466), Option 6,

Email your completed PMI Deletion Request form, to  Be sure to include your name, property address, and loan number in the body of the email. 

You can also send us the completed PMI Deletion Request form to:
Fidelity Bank Mortgage
Attn: Mortgage Escrow Department
PO Box 105075
Atlanta, GA 30348-5075
PMI removal request form
1 Original Value” is defined as: “The "original value" is the lesser of the purchase sales price and the appraised value of your property at closing. If the loan is a refinance, then the original value is the appraised value used to refinance the loan. To calculate the LTV, divide the unpaid principal balance of the loan by the property’s original value.”