Buying a home may require you to pay a PMI premium, but there are four methods available to stop paying it. First, there is a legal end to PMI under the Homeowners Protection Act. Second, you can reappraise your home, which will likely result in a new value. Third, you may be able to refinance your mortgage. Finally, if you’re current on your payments and you’ve reached the halfway point of the loan’s schedule, even if your mortgage balance hasn’t yet reached 78% of the home’s original value.