Can I Cancel Private
Mortgage insurance can usually be
canceled by the home buyer after he or she has at least 20 percent equity in the home.
Borrowers should contact their servicer to find out the procedure for canceling mortgage
insurance when they think they have achieved 20 percent equity. Guidelines for canceling
private mortgage insurance are set by investors. Typically, investors will require an
appraisal on the property. The servicer can recommend qualified local appraisers.