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PRIVATE MOR TGAGE INSURANCE PMI WAIVER REQUEST FORM Use this form to request a waiver of your Private Mortgage Insurance PMI on your Flagstar Bank Mortgage. Please type or PRINT IN CAPITAL LETTERS Conditions supporting the request for a PMI waiver. Read all options then check the box that applies and see associated section of instructions for the required additional documents. Appreciation of property value --Your loans must be at least 24 months.

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Letter to remove pmi Questions & Answers

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You re-appraise your home after it gains value. Generally, you can request to cancel PMI when you reach at least 20% equity in your home. You might reach the 20% equity threshold by making your payments on time per your amortization schedule for loan repayment.

Canceling PMI For loans covered by the Homeowners Protection Act of 1998 (HPA) , you can request to have PMI removed when your balance reaches 80% loan-to-value (LTV) based on the original value of your home.

Request PMI cancellation Your request must be in writing. You must have a good payment history and be current on your payments. Your lender may require you to certify that there are no junior liens (such as a second mortgage) on your home.

The only way to cancel PMI is to refinance your mortgage. If you refinance your current loan's interest rate or refinance into a different loan type, you may be able to cancel your mortgage insurance.

Dear (Servicer Name): I am requesting to cancel my private mortgage insurance. The coverage is with (Mortgage Insurance Company Name) and my mortgage loan number is (loan number). I have included documentation to support why I think the equity in my home has reached or exceeded 20%.

Dear (Servicer Name): I am requesting to cancel my private mortgage insurance. The coverage is with (Mortgage Insurance Company Name) and my mortgage loan number is (loan number). I have included documentation to support why I think the equity in my home has reached or exceeded 20%.

How to avoid PMI with a no-PMI mortgage A bigger down payment. If you want a mortgage without PMI, you'll need to make a down payment of at least 20%. ... Piggyback loans. No-PMI loans include “piggyback” loans, also known as “80-10-10” loans or combination loans. ... Lender-paid PMI loan. ... VA or USDA loan.

You re-appraise your home after it gains value. Generally, you can request to cancel PMI when you reach at least 20% equity in your home. You might reach the 20% equity threshold by making your payments on time per your amortization schedule for loan repayment.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232