Home › Ask the Appraiser › Can an appraisal remove private mortgage insurance (PMI)?
Can an appraisal remove private mortgage insurance (PMI)?
Often, yes. If your home has gained value, an appraisal ordered through your loan servicer can show your loan-to-value ratio is low enough to cancel PMI. Check your servicer's rules first, because most require them to order the appraisal.
Answer by Scott D. Kelley, Kentucky Certified General Appraiser #4265. General information, not legal advice or an appraisal of any property.
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