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XYZ Brokerage

Email: jeff@xyzbrokerage.com

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Website: www.xyzbrokerage.com

PMI

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How can we get rid of PMI
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November 10 - Baldwinville
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No, it will depend on what the balance of the loan is relative to the original appraised value. If it's 80% or better, you should be able to petition to have it removed. What Andrew is saying is that regardless of the principal balance paydown, if you keep the loan you'll have MI for 5 years.
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November 12
so if i go with FHA, with 20% down, the PMI will go away after 5 years?
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November 12
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In most cases you will need to pay the original balance down to 80% loan to value.  If it's FHA even if you do that you have to wait 5 years from the date you closed.
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November 10
 

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