Register

Carrie bought a house 5 years ago for $200,000. at that time, she borrowed $195,000 from her bank. the house is now worth $225,000. her pmi will automatically be dropped when he…

Carrie bought a house 5 years ago for $200,000. at that time, she borrowed $195,000 from her bank. the house is now worth $225,000. her pmi will automatically be dropped when he…
180k views
3 votes
Carrie bought a house 5 years ago for $200,000. at that time, she borrowed $195,000 from her bank. the house is now worth $225,000. her pmi will automatically be dropped when her mortgage balance drops to

User Jericob
by
8.0k points

1 Answer

6 votes
Her PMI will automatically be dropped when her mortgage balance drops to 78% of the home's ORIGINAL value of $200,000. The new value of the home is not relevant.
User DSCH
by
8.4k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories

Other Questions

Who was Adam Smith ? Anybody?
What can turn igneous rock into sediment?
In what way did the GI Bill contribute to the growth of professional and white-collar jobs ? A.by providing US laborers with new job-training programs B.by giving US veterans assistance to purchase a new
Link Copied!