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weiner_forest t1_iydydx7 wrote

I believe it's 78%. Keep in mind, that's off the original purchase price. Home equity due to appreciation I don't think is part of the legal requirement.

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weiner_forest t1_iydymak wrote

This is from nerdwallet:

> Here’s a caveat: To cancel based on current value, you must have owned the home for at least two years and have 75% LTV. If you've owned the home for at least five years, you can cancel at 80% LTV.

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[deleted] t1_iye7tbg wrote

This is not true, we cancelled PMI within 2 years by getting an appraisal done.

It was also solely due to market value increase, not improvements.

It depends on the lender and what is in the loan documentation.

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weiner_forest t1_iyeblc9 wrote

Okay, you should go ahead and write the authors and let them know to correct their article.

https://www.nerdwallet.com/article/mortgages/how-to-cancel-private-mortgage-insurance

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