Lower your monthly payment — permanently.

If you bought your home with less than 20% down, there’s a good chance you’re paying PMI — Private Mortgage Insurance.

PMI is common (and often necessary) when starting out, but here’s the good news:
👉 With a conventional loan, you don’t have to pay it forever.

Let’s walk through what PMI is, how to remove it, and when it makes sense to refinance or request cancellation — so you can start saving month after month.

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💡 What Is PMI?

Private Mortgage Insurance protects your lender — not you — in case you default on your loan.
It’s typically required when you put down less than 20% on a conventional loan.

• It’s added to your monthly mortgage payment
• Costs typically range from 0.3% to 1.5% of the loan amount annually
• It can add $100–$300/month or more to your payment

📘 FHA loans charge a similar fee (called MIP), but it lasts for the life of the loan unless you refinance.

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🧾 3 Ways to Remove PMI From a Conventional Loan

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✅ 1. Automatic Removal at 78% Loan-to-Value (LTV)

By law, lenders must automatically remove PMI when:

• You’ve paid your loan down to 78% of the original purchase price
• You’re current on payments

This is the slowest method — but it happens with no action required.

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✅ 2. Request Early Cancellation at 80% LTV

You can request to remove PMI sooner if:

• You’ve paid your loan down to 80% of the original home value
• You have a good payment history
• You submit a formal request to your lender

We’ll help guide you through the process and paperwork if needed.

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✅ 3. Refinance Based on Current Home Value

This is the fastest path for many homeowners.

If your home has increased in value (or you’ve made improvements), you can:

• Refinance into a new conventional loan
• Use a new appraisal to show 20%+ equity
• Eliminate PMI immediately — even if you originally put less down

📉 This can also help you lower your rate, consolidate debt, or reset your loan term.

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📊 Example:

• You bought for $350,000 with 5% down → loan amount $332,500
• Today, your home appraises at $420,000
• You owe $315,000
• New LTV: 75% → eligible to remove PMI via refinance

💬 That could be $150–$300/month in savings — instantly.

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🧠 What About FHA Loans?

FHA mortgage insurance doesn’t go away automatically.
To remove it, you’ll need to refinance into a conventional loan — which we can help you evaluate side by side.

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🏢 Why PRMI?

As a direct lender, we:

• Help you calculate equity and PMI removal eligibility
• Guide you through early cancellation or refi
• Handle everything in-house for speed and simplicity

If you’re still paying PMI, there’s a good chance you shouldn’t be — and we’ll show you exactly what’s possible.

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👇 Want to Remove PMI and Lower Your Payment?

Let’s look at your current loan and home value — and map out your fastest path to freedom.