When Can I Remove PMI from My Loan?

September 7th, 2005

PMI payments can be dropped from your mortgage when your LTV falls below 80%. Most lenders will not automatically drop your PMI though.

It is the borrower’s responsibility to contact the lender and pay for a real estate appraisal. If the appraisal shows that your loan has fallen below 80% LTV, then your PMI will be dropped.

Refinance your home, lower your rate and stop paying PMI today!

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Entry Filed under: Canceling PMI, General

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