Hello, I have a FHA mortgage loan on my condo through Bank of America. My original mortgage date was XXXX XXXX. But then I refinanced in XXXX XXXX. My original LTV ratio was over 80 % so I was required to pay PMI of {$360.00} per month. Currently I have {$360000.00} left on my loan and my condo was original assessed at {$460000.00}. I expect it would assess for at least that much today which leaves me under the 80 % threshold. I contacted BofA to ask about removing PMI but they are telling me since I refinanced less than 5 years ago they do n't have to remove PMI and I should contact them again in XXXX. 

Is this accurate? I thought once I had a LTV below 80 % I could contact my lender about removing PMI or at the least the 5 years should count from the date I bought my home not when I last refinanced. 
