|Types Of Mortgage Loans||Mortgage Lender Directory + Mortgage Calculators + Mortgage (ARM) Indexes||Mortgage Market Survey|
|+ Find The Best Mortgage +||Ask A Mortgage Related Question + Articles And Publications + Mortgage Glossary||+ Search Mortgage Rates +|
|Credit Grade Guide||Historical Mortgage Index Data + Historical Mortgage Rate Data + Home||Interest Rate Trends|
Removing the PMI
Mortgage Library: Ask a Mortgage Related Question: Answers: Removing the PMI
Say someone buys a property in a sheriff sale for $100,000, the buyer is required to place 10% on the sale. PMI is removed after 20% on the house. The appraisal only covers the cost of sale on the house ($100,000).
How soon after the closing can we get a second appraisal?
If the house is worth $150,000 after the second appraisal, does that qualify for removing the PMI?
A second appraisal may be done immediately after you purchase your new home. The appraiser must have the necessary E&O insurance and current license. PMI can be removed at that time.
Mortgage Lender Directory + Find The Best Mortgage + Search Mortgage Rates
Mortgage-Related Questions Answered