The good news that many homeowners aren’t aware of is that you can remove private mortgage insurance (PMI) from your loan. In many cases, if you reach 20% equity in your home, you can get the PMI canceled.
Most lenders require a real estate appraisal by a state-certified appraiser as the primary proof required to cancel PMI insurance.
To cancel your PMI, contact your lender to get detailed information on what needs to be done to cancel the insurance. From there you will need to submit proof to back up your claim. In most cases, the necessary proof is an appraisal completed by a state-certified appraiser.