PMI stands for Private Mortgage Insurance. It insures a lender against the potential loss in case of default on home loans – generally those purchased with a down-payment of less than 20%.  If you currently pay PMI premiums, once your equity standing in your home reaches 20% or more, you can usually eliminate the need for PMI.
Ask your Lender where you stand. You may be able to order your own appraisal for use in their PMI removal decision and start saving immediately. See if your value has increased since your home purchase with an appraisal from Aegis Appraisals today! Contact Us