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Posted on 1/26/16 at 9:03 pm to rpg37
quote:
WF said no to what? They are required to take it off at 78%...
My loan is with Wells Fargo as well. They will not remove PMI unless you've made improvements to the property (even if an appraisal gets you to 20% equity). Based on the previous post not all improvements qualify.
I purchased my home in Uptown New Orleans in 2010 and it has significantly increased in value since then. Wells Fargo will not remove the PMI because I've made no improvements.
This post was edited on 1/27/16 at 12:40 pm
Posted on 1/26/16 at 9:56 pm to rpg37
I guess I will just ask my PMI question in this thread. Conventional loan at 3.75% and I'm throwing away $87/month at PMI. I've got about $16,000 left of principal to pay off to get to 78% LTV.
This may be a dumb question, but could I take out a 2nd loan to immediately pay off the PMI? If so, can someone explain how to crunch the numbers to see about how much I could save, if any? TIA.
This may be a dumb question, but could I take out a 2nd loan to immediately pay off the PMI? If so, can someone explain how to crunch the numbers to see about how much I could save, if any? TIA.
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