by BigBear from USA
Ask Kate: It's PMI Calculation Time Hi Kate, I'm looking at refinancing our mortgage. We paid $385,000 for the home we just bought. We owe $363,000 on our mortgage and pay private mortgage insurance (PMI). The lender will do a new appraisal.
I'm wondering if the mandatory release of private mortgage insurance at less than 80 percent LTV will be based on the original value or the new appraised value.
Any help and link to information would be great!
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