PMI Removal Appraisals

What this service involves

A PMI removal appraisal is a current market-value appraisal of a residential property, prepared to support a borrower's request to cancel PMI. The deliverable depends on the agreed scope. It is important to understand that the lender decides whether PMI can be cancelled and may have its own appraisal requirements; an owner-ordered appraisal supports your inquiry but does not guarantee the lender will accept it or cancel PMI.

This is distinct from a refinance appraisal, though refinancing is another way to remove PMI. A PMI removal appraisal supports cancellation of the existing loan's PMI without refinancing.

When someone may need it

A homeowner may request a PMI removal appraisal when they believe their equity has grown — through price appreciation, principal paydown, or improvements — to the point that PMI is no longer required. The lender's specific cancellation rules and the borrower's loan terms determine whether and when cancellation is possible.

What the analysis considers

The appraisal considers the residential property's current market value based on:

• Property characteristics: type, size, layout, condition, and improvements.
• Comparable sales: recent sales of similar homes nearby.
• Market conditions: current local supply, demand, and trends.
• Intended use: supporting a PMI cancellation inquiry.

Information that may help

Have ready the property address, your current loan balance, and your lender's PMI cancellation requirements if you have them. We do not need loan documents through the general inquiry form. Confirm your lender's specific process before ordering, since requirements vary.

How the assignment works

We confirm the scope and intended use, inspect the property when required, research current comparable sales, complete the analysis, and deliver the report. The value, relative to your loan balance, indicates your equity; the lender decides whether PMI can be cancelled based on its rules and the appraisal it accepts.