Sample Cancellation Letter for PMI
When your loan has reached 75%-80-% loan to value because of appreciation or pay down of your loan balance, with no late pays, then there is a chance you may be able to remove your PMI.
The first step is call or write to your loan servicer (not the PMI company) and ask for their PMI removal policy.
| Loan Servicer Loan Servicer Address Anywhere, State ZIP Loan #: Your Social security #: Your Name: Your Address in question Dear Sirs: Please inform me as to the steps necessary to drop my PMI. |
At this point you will probably have to provide an appraisal, or Brokers Price Opinion. Make sure that you get the guidelines on what is acceptable before you go out and pay for this. Your loan servicing company will no doubt give you a list of acceptable licensed appraisers.
