Quote:
Originally Posted by Chuck1674
Mortgage with Citizens.. Seven months ago,I put down 10%. Now looking to get rid of PMI. Have realized some appreciation. Will I need to come up with the additional 10%. OR will I definitely need a new appraisal to show appreciation. Hoping they will work with me. Any advice before I call them this week. Thanks
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Your appreciation doesn’t matter. It would be nice if it worked that way but it doesn’t. You have to pay down 20% of the original loan value before you can get rid of PMI. It’s been that way forever.