Appraisals for mortgage insurance removal
Many homeowners pay private mortgage insurance longer than necessary. If your lender allows an appraisal for PMI cancellation, ProValue can provide an independent residential valuation to support your request.
When a PMI appraisal may make sense
- You purchased with a low down payment
- Comparable home prices in your area have increased
- You made significant improvements
- Your lender requested an appraisal for PMI cancellation
Before ordering, check your lender's specific PMI removal process. Requirements vary by loan type, loan seasoning, payment history, investor guidelines, and servicer requirements.
Can an appraisal help remove PMI?
In some cases, a lender may allow PMI cancellation based on a new appraisal showing sufficient equity. Requirements vary, so homeowners should confirm the lender's process before ordering.
Do I order the appraisal myself or through my lender?
That depends on the lender. Some lenders require the appraisal to be ordered through their approved process. Confirm acceptance requirements before ordering privately.