Property Appraisal for PMI Removal
Private mortgage insurance (PMI) is generally required by a lender when the down payment on a home is less than 20% of the home’s total value. To remove PMI, you will need an appraisal showing that you have accumulated at least 20% equity in your home. In order to arrange an appraisal to remove PMI, you must contact your lender. They will assign an appraiser for the job.