Question 1

When can I remove PMI?

Accepted Answer

You can request PMI removal when your equity reaches 20% (80% LTV). Lenders must cancel automatically at 78% LTV.

Question 2

How much does PMI cost?

Accepted Answer

PMI typically costs 0.5–1.5% of the loan amount annually, or $83–$250/month on a $200,000 loan.

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