About PMI

Removing PMI Fees



Private Mortgage Insurance allows an individual to purchase their home with less than a twenty percent down payment. If the current loan balance of your home is less than eighty percent of the home's current market value it is time to stop paying monthly into an escrow account for PMI and start putting that money into your pocket. The homeowner should get an unbiased second opinion about the value of the home. A realtor who is familiar with the area may be to help with a valuation through a comparative market analysis. A preliminary consultation with a trained appraiser familiar with your area could also help the homeowner.
There are several possible ways one may have achieved enough equity in this home to qualify for a PMI free mortgage:
If the homeowner believes that the above criteria has been met, the next step is to contact the current lender requesting information on the requirements to remove the PMI coverage. The most common conditions are, but not limited to, the following:
G Mason Appraisals  has experience in appraisals for the removal or reduction of PMI fees.