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Georgia Valuation Source

Georgia Valuation Source

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Home Value

Using an Appraisal to Remove PMI

An independent, current opinion of value can support your PMI removal request — here's how the process generally works.

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Home Value4 min read

If your home has appreciated or you've paid down your loan significantly, you may have enough equity to request removal of your private mortgage insurance (PMI) — and a current, independent appraisal is often central to making that case to your lender.

Illustrative Loan-to-Value Snapshot

Drag to see how equity relates to a common 80% LTV starting point. This is a general illustration, not a calculation for your loan — your lender determines your actual requirements.

Loan Balance: 65% of valueEquity: 35%

At or below 80% — many lenders consider this a starting point for a PMI review.

How the Process Generally Works

Contact Your Lender First

Ask your loan servicer directly about their specific PMI removal requirements, required loan-to-value threshold, and whether they'll accept a new appraisal to support your request.

Confirm Appraisal Requirements

Lenders vary in which appraisal types and providers they'll accept for this purpose — confirm before ordering so the report meets their specific requirements.

Order the Appraisal

The appraiser develops an independent, current opinion of your property's market value through inspection and comparable-sales analysis.

Submit to Your Lender

Your lender reviews the resulting value against your loan balance to determine your current loan-to-value ratio and whether PMI removal criteria are met.

Always Start With Your Lender

PMI removal is governed by your specific loan program and lender policy — not a universal rule. Before ordering an appraisal, confirm your lender's required loan-to-value threshold, seasoning requirements, and whether they'll accept a borrower-ordered independent appraisal for this purpose.

Frequently Asked Questions

Private Mortgage Insurance is typically required by lenders on conventional loans when a borrower's down payment is below a certain threshold, protecting the lender if the loan defaults. It's generally removable once sufficient equity has accrued.

No — the appraisal provides an independent, current value. Your lender determines whether that value, combined with your loan balance and their specific policies, meets their loan-to-value threshold for removal.

This depends entirely on your lender's specific policy — some accept a borrower-ordered independent appraisal, others require an appraiser from an approved list, or have their own process entirely. Always confirm with your lender first.

Requirements vary by lender and loan program — this is exactly why the first step is contacting your loan servicer directly rather than assuming a specific number.

Many lenders have loan-seasoning requirements (a minimum time since origination) in addition to equity thresholds — again, confirm specifics with your servicer.

Continue Learning

Next RecommendedPre-Listing Appraisal GuideRelated TopicWhat Is a Home Appraisal?Explore Appraisal BasicsHow Long Does a Home Appraisal Take?

This information is provided for general educational purposes about PMI removal and is not financial or legal advice. PMI removal is subject to your specific lender's requirements — always confirm details with your loan servicer.

Ready to Support Your PMI Removal Request?

Request a PMI Removal AppraisalAsk a Question First