PMI Removal Appraisals
PMI stands for "Private Mortgage Insurance".
PMI stands for "Private Mortgage Insurance". It has become increasingly more common to see home buyers using down payments of 10, 5 or even 0 percent
These lower down payment loan programs often require Private Mortgage Insurance or PMI. This supplemental insurance policy protects the lender in case a borrower defaults on the loan.
Apply to have the PMI removed from your loan.
Once the value of your home has increased where you have at least 20% equity in your home (80% loan to value ratio), you can apply to have the PMI removed from your loan.
Property values in the Kansas City area have increased significantly over the past few years. The lender usually requires an appraisal to be completed by a state licensed appraiser on the house.1
Cancellation of Private Mortgage Insurance can Save You Hundreds of Dollars Each Year.
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Express Appraisals Inc. provides Appraisals for Missouri (MO) and Kansas (KS).