Commanders Post at The Warpath - View Single Post - No Wonder They Will Not Cancel My PMI Insurance

redsk1 · 02-22-2011, 09:44 AM

Yes, it's 20% of the original sales price not current value. If you've done improvements that add sq. ft. you can argue to get a new appraisal. It's a pain to deal w/. Once you get to 20% of your original sales price they have to get rid of it.

You could refinance, but not sure it would be worth it for you in regards to rate, etc. I would guess you are pretty close to being at 80% loan to value?

02-22-2011, 09:44 AM	#5
redsk1 The Starter Join Date: Oct 2004 Posts: 2,351	Re: No Wonder They Will Not Cancel My PMI Insurance Yes, it's 20% of the original sales price not current value. If you've done improvements that add sq. ft. you can argue to get a new appraisal. It's a pain to deal w/. Once you get to 20% of your original sales price they have to get rid of it. You could refinance, but not sure it would be worth it for you in regards to rate, etc. I would guess you are pretty close to being at 80% loan to value?