Stop Paying PMI Insurance!

•   Over 50% of all mortgage loans have mortgage insurance (PMI).

•  A 1998 federal law requires lenders to allow you to drop your pmi once you have 20%
  equity in your home.

•  To drop your private mortgage insurance you may need a real estate appraisal by a
  state certified real estate appraiser. Any improvements you have made since purchasing
  your home will be reflected in the report.

•   What do I need to do to drop my mortgage insurance?

  1. Contact your lender. Verify that you are paying mortgage insurance. Confirm that you qualify
  for pmi removal. Get their specific requirements for exactly what you need and where to send the
  information. Most will require an real estate appraisal by a state certified or licensed real estate appraiser.

  2. Contact ABC Appraisal Inc. Verify that they we meet your lenders experience and certification/
  licensing requirements.

  3. A typical real estate appraisal appointment will take approx 25 minutes, at the home. That includes
  both the interior and exterior inspection. A sketch of the room layout is made and digital photos are taken
  of the home as well as any out buildings that may be on the property.

  4. Send the real estate appraisal report to your lender and enjoy your lower house payment.

  
                                                                   ABC Appraisal Inc. 

                         phone( 203) 239-1988          fax (203) 239-6494