Portal Forum General General Discussion Home Ownership Reply To: Home Ownership

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OrionOrion
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@rowshkex wrote:

How do you get rid of PMI? Refinance? Can you put a clause in the loan terms that say the PMI goes away after X happens?

If it’s an fha loan you can’t get rid of pmi so you would have to refi. If it’s a conventional loan it will drop off automatically when the original loan to value ratio drops below 80%. This can by paying down the loan or by reapprasial if the house goes up in value.