Build home equity to at least 20% of the home’s original value
Make extra principal payments to reach 20% equity faster
Request PMI cancellation from your lender once you qualify
Verify your mortgage is current and has a good payment history
Get a new home appraisal if your lender requires proof of increased value
Refinance into a new loan if you have enough equity
Refinance into a conventional loan if you currently have FHA mortgage insurance
Wait for automatic PMI termination at 78% loan-to-value on most conventional loans
Check your loan documents for lender-specific PMI removal rules
Ask your servicer for the exact PMI removal process and required forms