In this video, I will explain "How To Remove PMI On A Conventional Loan 2022". What is PMI? Private Mortgage insurance was created for lenders to have the ability to
loan to people with less than a 20% down payment. There are several types of PMI.
This video refers to an election of a monthly payment of PMI. Removal of PMI,
according to the Homeowners Protection Act, out in 1998, requires that at 78% from the
original price, the PMI is automatically removed. If you’re advancing your amortization,
you can request from the lender an 80% loan to value. This is up to the lender’s
discretion. If you’re going to use the increase in value in appreciation for the calculation
of the loan to value, from 25 years, you can request it if your 75% or below value. If it’s
over 5 years, you can request, but 80% is used for the calculation.





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