Remove Private Mortgage Insurance As Soon As Possible
Private Mortgage Insurance (PMI) is required on a conventional loan when the down payment is less than 20% It will be removed once the equity on the home reaches 22% based on the original value. However, there are different ways to eliminate PMI sooner rather than waiting for the equity to build up based on the original price or value. Keep reading to find out ways to remove PMI without refinancing soon that you thought was possible.