What is PMI Insurance?  Private Mortgage Insurance (PMI) was introduced over 30 years ago to provide Lenders with insurance against default for purchasers with a down payment of less than 20 percent.  PMI Insurance is collected through the Mortgage Payment to insure the Lender against default.  As a homeowner, once your equity level in your home reaches 20 percent you have the right to have the PMI Insurance eliminated.

Thousands of homeowners have needlessly paid many thousands of dollars over the entire term of their mortgage. While you needlessly pay for this PMI Policy, your lender is making money that is rightfully yours.

The majority of mortgages with PMI have required the homeowner to pay a full year of premiums in advance at loan closing with additional escrow payments accumulating monthly as a portion of monthly mortgage payments. For this reason, the vast majority of homeowners are due a significant refund of at least one year’s worth of premiums, in addition to permanent discontinuation of payments.

Reduce your Mortgage Costs by eliminating PMI Insurance and Save Hundreds of Dollars Per Year.  You may even be entitled to a full refund of the PMI escrow you paid upon closing of your home (usually one full year of PMI Payments). An increase in equity in your home would allow you to eliminate PMI Insurance.

How would your equity position change in your home?

• If your loan is two or more years old.
• If you have made improvements that increase the value of your home
• If you have paid down a portion of your mortgage.
• Or, if you purchased your home for below market value.

Request your PMI Insurance be eliminated! Provide your Mortgage Company with an appraisal proving your equity has exceeded the 20 Percent threshold and request they cancel your PMI Insurance Policy.

Do you know the true value of your home? An appraiser will provide you with an unbiased opinion of value. With an appraisal you know the true value of your home. Overprice your home you may miss your target market. Under price your home and you will not realize its true value.

 

An appraisal can be utilized as a marketing tool. It improves your bargaining position with prospective buyers. An appraisal of your home will show them its true value.

 

Aiken Appraisal Service will help you obtain the best possible price for your home by providing you with a complete appraisal report estimating the market value of your home.

Ensure your rights are protected. If you are getting a divorce ensure that your home is accurately valued. Rely on an appraisal requested by you as it may represent your best interest.

We work with attorneys and individuals to help settle estates. With our vast database of comparable sales and access to county records we can help settle a recent estate or an older one dating back ten years or more. Our appraiser’s are Washington State Certified and are experienced at completing appraisals for estate purposes.