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PMI Removal Appraisals

PMI stands for "Private Mortgage Insurance". A popular money saver for homeowners in the last few years is to get the PMI removed from their mortgage loan, thus saving them money on their monthly payments.

What is PMI and how to get rid of it

Private Mortgage Insurance is designed to offset the risk to the lender for mortgage defaults in case a borrower defaults on the loan, and the value of the house is lower than the loan balance.

The amount of the insurance is often $40-$50 per month for a $100,000 house and is commonly rolled into the mortgage payment.

Are you eligible to terminate your PMI? For more information on PMI and the Homeowners Protection Act, try this link:

Appraisal Resource Group, LLC will provide a market value appraisal for validation of market value if you determine that you are eligible.