26 Aug 4. You eliminate PMI when refinancing your home
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So, having a solid idea of your home's value and how it's changed can help you track when it might be time to ditch the PMI. But a simple hunch won't be enough to get your lender to remove it. You'll need to get an appraisal or another official valuation of your home (more on that below.)
In light of low interest rates, an increasing number of homeowners have decided to trade their old mortgage for a new one, a process known as refinancing.