Quote:
Originally Posted by firstdown
I'm
with Wells Fargo (not a job my mortgage Co) and there is 3 different ways to have PMI removed from your loan. The 20% rule is from the purchase or appraised amount at the time of purchase.Then if you make a big enough improvement like a garage, addition etc.. if it increasees the value enough. Stuff like upgrading a bathroom painting do not count. Then there is another way which I cant think of but just call your mortgage co and they should send you the papper work and if you qualify they have to remove your PMI.
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Well, I put in a hot tub, and built a new deck as well as put in new electrical service and redid the kitchen with granite tile tops and new sink with new plumbing.
Not only that, but the market has jumped considerably out here. A house that was 100k 3 years ago, is now worth 150-167k. It's quite a jump.