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Stop
Paying PMI Insurance!
read
the 1998 PMI bill
-
Over 50%
of all mortgage loans have mortgage insurance (PMI).
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A
1998 federal law requires lenders to allow you to drop
your PMI once you have 20% equity in your home.
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To drop
your private mortgage insurance you may need an appraisal by
a state certified appraiser. Any improvements you have
made since purchasing your home will be reflected in the
report.
Alliance Appraisal
Services LLC is a residential appraisal firm.
We have
prepared over 10,000 appraisal reports in
San Diego County,CA , Clark County, NV, and
Benton & Washington Counties, AR.
We may be able to help
you reduce your
mortgage payment.
Call us!
(479)
248-2235
Common
Questions
What
is the cost of an appraisal?
Appraisal
fees fluctuate in different areas. A typical residential
appraisal will cost $300 - $400. Visit our
fees
page for
our prices.
How
much can I save?
Contact
your lender for the specific amount. PMI rates typically vary
between $0.35 - $0.80 per $100 (based upon your loan amount).
The table below has several examples.
|
Original
Loan Amount |
5%
Down |
10%
Down |
15%
Down |
|
$100,000 |
$60.00 |
$40.00 |
$30.00 |
|
$150,000 |
$90.00 |
$60.00 |
$45.00 |
|
$200,000 |
$120.00 |
$80.00 |
$60.00 |
Note:
These are monthly costs!
What
do I need to do to drop my mortgage insurance?
1.
Contact your lender. Verify that you are paying mortgage
insurance. Confirm that you qualify for pmi removal. Get their
specific requirements for exactly what you need and where to
send the information. Most will require an appraisal by a state
certified or licensed appraiser.
2.
Contact an appraiser. Verify that they meet your lenders
experience and certification/licensing requirements.
3.
Send the report to your lender and enjoy your lower house
payment.
It's
that easy!
APPRAISAL
ORDER FORM
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