PMI Removal Appraisal
Private Mortgage Insurance also called PMI, is a type of mortgage insurance used with conventional loans. PMI protects the lender if you stop making payments on the home loan. PMI is typically paid for in the monthly premium. PMI is typically required when the buyer has less than 20% of the loan to value. Our office assists in the appraisal process which will help eliminate PMI. It is recommended that the homeowner have a conversation with the lender prior to ordering an appraisal as the lender may have a process in which to follow.