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[quote=Anonymous]To the PP, any lender can help you get rid of PMI. What has to be true is that you now owe less than 80% of the appraised value on the new loan. so if you have a 400k mortgage balance, you better hope your home appraises for 500k or higher so that PMI isn't required. You can get rid of PMI without refinancing buy paying for an appraiser yourself with your current lender and showing them that you are now 78% Loan to Value, but it is more tedious, and with home interest rates so low right now, it often is easier and cheaper in the long run to just refinance. do an honest assessment of if you have less than 80% LTV. Also you can always refinance later, but your lender is right that rates are likely as low as they are going to get for a while, plus you always pay something when you refinance and you start the completion clock all over again.[/quote]
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