Stop paying for mortgage insurance you no longer need. An independent appraisal is the first step.
PMI Removal Appraisals
If your home has gained value since you bought it, you may be able to stop paying private mortgage insurance (PMI). Many lenders will cancel PMI once your loan balance is at or below 75-80% of the home's current value, and an appraisal is how you prove it.
PMI removal appraisals start at $500 for single-family homes and $650 for multi-family. Most reports are delivered within 2 business days of the inspection. Complex, large, or unique properties are quoted individually.
Before ordering, check with your lender. Many lenders have their own requirements for PMI removal, such as an approved appraiser list or a minimum time since closing. Once you know what they need, Gordon Appraisal can usually schedule your inspection quickly.
We provide PMI removal appraisals across Rhode Island, Massachusetts, and eastern Connecticut. PMI often costs $50 to $200 or more per month, so the appraisal can pay for itself within a few months.
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Market Value
Gordon Appraisal delivers fair market value opinions, backed by meticulous analysis and industry expertise.
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Reach
With an expansive Tri-State
reach, Gordon Appraisal offers
their professional services across multiple regions, ensuring comprehensive property valuation and appraisal solutions.
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Trusted Partnership
Benefit from Gordon Appraisal's decades-long legacy of trusted partnerships, providing unwavering reliability and expertise in property valuation for sustained client confidence.
PMI Removal FAQs
How do I know if I qualify to remove PMI?
Divide your loan balance by your home's estimated value. If the result is near or below 75-80%, it's worth calling your lender to ask about removing PMI.
Do I need to call my lender first?
Yes. Many lenders have their own requirements or an approved appraiser list for PMI removal. Ask them what they need before ordering an appraisal.
How much can I save by removing PMI?
PMI often costs $50 to $200 or more per month. Once it's removed, that money stays in your pocket, so the appraisal can pay for itself within a few months.
