 TITLE: How to Get Rid of Private Mortgage Insurance (PMI) CONTENT: 3\\. Get a New Appraisal\n-----------------------\nAs your home's value rises, the principal balance stays the same and your equity increases. If you've noticed rising prices in your area or have completed home improvement projects, you could have over 20% equity even if you haven't been making extra mortgage payments.\nContact your loan servicer if you think this may be the case. Lenders might be willing to cancel your PMI if you have 20% equity based on the home's current value. However, you may need to pay for a home appraisal first. END