Mortgage insurance can usually be canceled
by the home buyer after he or she has at least 20 percent equity in the home.
Borrowers should contact their servicer to find out the procedure for canceling
mortgage insurance when they think they have achieved 20 percent equity.
Guidelines for canceling private mortgage insurance are set by investors.
Typically, investors will require an appraisal on the property. The servicer can
recommend qualified local appraisers
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