What is a PMI removal?


PMI stands for Private Mortgage Insurance. PMI is generally only required when a home buyer puts less than 20% down on a property they are purchasing. It is an insurance to offset losses in case the purchaser is unable to pay their mortgage.

PMI removal is when the home buyer has paid off enough of the property to remove the insurance. In order to have the PMI removed the loan principal must be reduced to 80% of the market value. In order for the principal to be reduced the loan can be paid down, the home value can appreciate, or both. You will need to contact your lender to determine if you qualify for a PMI removal.

Appraisals can help with your PMI removal but first you will need to contact your lender to find out how much your property needs to be worth in order to remove the PMI. It is the homeowner’s responsibility to prove that the property is worth that amount. The lender will require an appraisal to determine the market value, often times you can select your own appraiser but some lenders require you to use one of their approved appraisers, so be sure to ask the lender first. Once a full appraisal is completed you will submit it to your lender and it will be up to them to determine if the loan to value ratio is acceptable for a PMI removal.

PMI removal can work it the loan to value ratio is sufficient. With the markets currently going up many people who purchased a property with PMI in the housing market crash are now able to get a PMI removal.

Please contact our office with any questions you may have or to schedule your appraisal appointment at 760-741-7699, brandlinappraisal@yahoo.com or use our contact page on our website.

Brandlin Appraisals Inc. specialize in helping people who need appraisals for estate purposes, divorce, date of death, bankruptcy, FSBO’s and more throughout San Diego county. For more information please contact us at (760)741-7699, or visit our website at Brandlinappraisals.com, or email us at admin@brandlinappraisals.com

Mike Brandlin
San Diego, CA // Real Estate Appraiser
(760) 741-7699

San Diego Real Estate Appraisal Services For:
Divorce Appraisals / Marriage Dissolution
Bankruptcy Appraisals
Bail Bonds Appraisals
Estate / Date of Death / Retrospective Appraisals
Financial Planning & Trusts
PMI Removal Appraisals
Pre-Foreclosure & Short Sales
Tax Assessment Appeals
Pre-Listing, Pre-Purchase, FSBO’s
Probate Appraisals



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