PMI Removal

PMI Removal Appraisals in Sonoma, Napa, Marin, and Mendocino Counties 

Private Mortgage Insurance (PMI) is supplemental insurance that lenders often require when a home loan exceeds 80% of the property’s value. Typically, PMI is included in your monthly mortgage payment and can be overlooked. However, PMI is no longer necessary once your loan balance drops below 80% of the home’s value, whether from market appreciation or paying down principal. In fact, the Homeowners Protection Act of 1998 mandates that lenders remove PMI once this loan-to-value ratio is achieved.

As a licensed appraiser, I offer specialized PMI removal services. If you believe your loan-to-value ratio has reached 80%, I can provide an official appraisal report to confirm your home’s current value. For a modest fee, this report can be used to request PMI removal from your lender. These appraisal costs often pay for themselves quickly, as you stop making those extra PMI payments.