If your home has gained value since you bought it, your loan may now be below the loan-to-value level at which private mortgage insurance can be dropped. Removing it can save a meaningful amount every month, and the request usually depends on an appraisal that shows today's market value.
Call your servicer first
Servicers set their own rules for borrower-requested PMI cancellation, including how long you must have owned the home, the loan-to-value they require, and who may perform the appraisal. Some order the appraisal themselves or use an approved list; others accept a report ordered by the borrower. Ask before you order so the report you pay for is one they will accept.
What the report shows
When the servicer accepts an independent appraisal, we provide a current market value supported by recent comparable sales. Most servicers expect an interior inspection for this purpose, so PMI removal requests are usually completed as Standard appraisals, which are available throughout San Diego and Riverside Counties.
Report options
These report types are most often used for this purpose. The quote you receive will confirm which one fits your situation.
Requesting this appraisal
Use the request form to share the property address, the purpose and the effective date you need. You will receive a written quote and delivery date by email — usually within one business day — with no obligation until you approve it.