PMI question: My home has appreciated by 20-30% in the last year (hot area), I've added about 5% to the home's value, and my LTV is 89%. I asked to remove PMI and my company said I was not eligible to even get an appraisal until the 2 year mark. Has anyone found a way to remove PMI early in similar circumstances?

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In the old days, you could just refinance with a new company and you were good. But with higher interest rates, that may not pan out.

What’s your current rate? How much is PMI? If you pay PMI for the next few months, how much does that compare to refinancing at a higher APR?

I know it sucks to pay PMI but probably still cheaper than refinancing at current market rates…

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You"re unfortunately correct, PMI isn't even close to being worth dropping for a new loan. I'd have to almost double my rate.

I believe 2y is pretty standard.

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I think the LTV % needs to be at/below 80% or remove it

It does, what I was applying for was an increase of property value. Original was 100%, today it's closer to 130%, so 90% LTV is more like 70% LTV

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