Most MI companies aren't allowing the MI to drop off before two years right now.

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Oct 19, 2021
3:22:18pm

The Godfather Mortgage Loan Officer

Most MI companies aren't allowing the MI to drop off before two years right now.

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The Godfather

Previous username: THE KlD
Bio page: The Godfather
Joined: Sep 23, 2013
Last login: May 17, 2024
Total posts: 23,149 (15,868 FO)

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Messages

Author

Time

Question on refinancing out of a PMI

LeonMarek

10/19/21 3:19pm

it's either an appraisal or if the lender's internal metrics show its

Hsaru

10/19/21 3:21pm

Most MI companies aren't allowing the MI to drop off before two years right now.

10/19/21 3:22pm

Yep, we just tried. I'm in a similar situation to OP

letthewookieewin

10/19/21 3:23pm

Depends on the lender, mine just increased the value with no appraisal last year

Plato

10/19/21 3:21pm

you don't necessarily need to refinance to drop PMI, you can do it with an

BYUFBDAD

10/19/21 3:21pm

Not within a year of purchasing the home or getting a new loan.

Superman21

10/19/21 3:30pm

We refinanced twice this year and no longer have PMI

10/19/21 3:28pm

I refinanced earlier this year out of PMI after just a year in the home. The

10/19/21 3:33pm

BM Mulletino! Depending on your current rate, it may be possible to refinance

AFewThoughts

10/19/21 3:35pm

We refinanced through Mullitino about a year ago. I still haven't found anyone

scottfunkel

10/19/21 5:01pm

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