 TITLE: How to Get Rid of Private Mortgage Insurance (PMI) CONTENT: 2\\. Request PMI Cancellation\n----------------------------\nYou can also ask your loan servicer to cancel your PMI once the loan's principal value is 80% of the home's original value. The original value is the lesser of the home's appraised value or sale price when you took out the mortgage.\nTo qualify, you must have a good payment history and can't be behind on your payments. You also might not be able to have a second mortgage—such as a home equity loan or line of credit. Additionally, the lender can require you to get an appraisal and may deny your request if the home's value has decreased since you bought it. END