How to Remove PMI Payments

Steps To remove your PMI payments

1. Contact your mortgage lender to see if you are eligible for a PMI removal on your loan.

2. Send a letter with your loan number, requesting the removal of PMI from your loan, with your signature and date.  On this letter, I would advise you to have 2 to 3 different ways by which to contact you. There are situations where the lender may use the fact they could not contact you to continually push this off.

3. The lender will then order an appraisal or a BPO (Broker Price Opinion), to value the residence. The broker well then come by the residence and take pictures of the front, each room, outside back, and any improvements you have made.  (As a best practice, I would also send a letter specifying improvements you have made with the dates and the cost of those improvements to the lender.)