We provide appraisals for mortgage lending purposes and have the ability to utilize a third party for compliance requirements.
Private mortgage insurance (PMI) is supplemental insurance lenders when the amount of the loan is more than 80% of the value of the home. The payment is included into the mortgage payments. Generally PMI becomes unnecessary when the remaining balance of a loan drops below 80%. The lender may be obligated to remove PMI when loan to value ratios are met.