[quote=gzz]
In fact it is a pain to get PMI taken off of a loan, and it is easier to refi to a new loan when you hit 20% equity.
[/quote]
This is so true. I actually thought our loan originator would be more willing to work with us when we hit 20% equity, but their response was they don’t even consider it until the loan has existed for 2 years. So we refinanced at a 0.25% lower rate instead. More work on our end to gather and sign the documents again, but getting rid of PMI is saving us thousands of dollars a year.
