When can you request to cancel mortgage insurance?
When the mortgage balance of a loan, based on the original amortization schedule, is first scheduled to reach 80% of the home’s original value, you may request that the lender cancel their PMI.
You must also have a good payment history on their mortgage loan, payments must be current, and there can be no subordinate liens against the home. An acceptable payment record is achieved when the loan is current when the termination is requested, has no payment 30 or more days past due in the last 12 months, and has no payment 60 or more days past due in the last 24 months.
(more details in the graphic below)

What do you need to do to request cancellation?
To cancel PMI, you should first contact the loan servicer to confirm what information is required and to confirm specific cancellation requirements. This may include supplying additional information on the home or loan and having an appraisal, BPO or CMA.
Once this is complete, you should send a request in to the servicer for cancellation of PMI. It is the servicer’s obligation to verify the date when a loan meets all requirements for cancelling PMI and to promptly instruct the mortgage insurance company to cancel coverage.