Can you get rid of your PMI payment? Have you been paying private mortgage insurance for years? You may be closer than you think to getting rid of that extra payment, which for many people can amount to hundreds of dollars a year. Home improvements, appreciation and extra payments can all shorten the time you have to pay PMI.
The basic rule is that you can cancel your PMI payments once your home equity reaches 20 percent of your home's value. If you think you might be unnecessarily paying private mortgage insurance, take this quiz to find out whether you're paying unnecessary PMI.
Have you been paying private mortgage insurance for years? You may be closer than you think to getting rid of that extra payment, which for many people can amount to hundreds of dollars a year. Home improvements, appreciation and extra payments can all shorten the time you have to pay PMI. 
