PMI and original value of home

This post has been de-listed

It is no longer included in search results and normal feeds (front page, hot posts, subreddit posts, etc). It remains visible only via the author's post history.

Post Body

I'm looking for some help understanding when I can get rid of my PMI. I understand it's eligibe when you've paid off 20% of the original value of your home, but that's where I'm confused. What counts as the original value of your home? I bought my house for $310,000, but, at the time of purchase, it was appraised at $325,000. Which value do I use to determine the 20%? And if it's the former, is there a way to make it the latter?

::EDIT:: Should have said "appraised" and not assessed. The bank appraised it at $325,000 when I bought it.

Author

Account Strength

100%

Account Age

11 years

Verified Email

Yes

Verified Flair

Total Karma

63,532

Link Karma

8,813

Comment Karma

53,772

Profile updated: 2 days ago

Posts updated: 5 months ago

SewerRanger

Subreddit

r/Mortgages

Post Details

We try to extract some basic information from the post title. This is not always successful or accurate, please use your best judgement and compare these values to the post title and body for confirmation.

Posted: 8 years ago
Reddit URL: View post on reddit.com
External URL: reddit.com/r/Mortgages/c...