According to Bankrate.com, For folks with PMI, you must have at least 20 percent equity in the home to eliminate it. You may ask the lender to cancel PMI when you have paid down the mortgage balance to 80 percent of the home’s original appraised value. When the balance drops to 78 percent, the mortgage servicer is required to drop the PMI.

Source: Bankrate.com

Loan Smart Team Smart Team Answered question October 19, 2019