 TITLE: How to Get Rid of Private Mortgage Insurance (PMI) CONTENT: 4\\. Refinance Your Mortgage\n---------------------------\nAnother option may be to refinance your mortgage. Whether you'll need PMI on the new loan will depend on your home's current value and the principal balance of the new mortgage. You can likely get rid of PMI if your equity has increased to at least 20% and you don't use a cash-out refinance.\nIf you prepaid your entire PMI premium, you might be able to get a refund for part of the premiums when you refinance. Borrowers who took out a loan with a higher interest rate and LPMI can also benefit from refinancing with a mortgage that doesn't require PMI. END