Guides

Insurance Articles

Homeowners Insurance Information

12 Ways to Save Money on Homeowners Insurance

Private Mortgage Insurance

PMI Cancellation

Title Insurance

Title Insurance FAQ

PMI Cancellation

Mortgage insurance can usually be canceled by the home buyer after he or she has at least 20 percent equity in the home. Borrowers should contact their servicer to find out the procedure for canceling mortgage insurance when they think they have achieved 20 percent equity. Guidelines for canceling private mortgage insurance are set by investors. Typically, investors will require an appraisal on the property. The servicer can recommend qualified local appraisers.