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You can also eliminate your PMI if you can appraise your home at a price that escapes the difference, so keep an eye on that.
by tjr225 4y ago
You can also eliminate your PMI if you can appraise your home at a price that escapes the difference, so keep an eye on that.
- joshstrange 4y agoI thought at some point I read that FHA loans don't have that? I'll look more into again in a few years when my house will appraise high enough.
- throwaway6734 4y agoCertain loans (like fha loans) have PMI for life
- germinalphrase 4y agoIs an appraisal enough or is refinancing required?
- bombcar 4y agoCheck your loan documents, mine have often had a "if valuations go up you can pay for an appraisal when you cross 20% or it's assumed if valuations have gone up enough AND enough time has passed". Usually it auto-expires when you pass the 20% equity mark based on original sale price. It's easier with a local lender as opposed to someone who sold off the mortgage, of course.