How to get rid of Mortgage insurance

So, you want to kick that mortgage insurance to the curb? No worries, I've got you covered! Here's how you can bid it farewell:
Private Mortgage Insurance (PMI):
Show it who's boss by reaching 20% equity in your home. Once you've paid off enough, you can request PMI removal like a boss.
Give your mortgage a good spanking by making extra payments towards the principal. It'll be shocked at how determined you are to get rid of it.
If your home's value has skyrocketed, flaunt it with a new appraisal. Prove to that pesky PMI that you're in charge and have reached the magical 20% equity mark.
Consider giving your mortgage a makeover by refinancing. If interest rates have dropped or your credit has improved, you can kick PMI to the curb and say, "Hello, better deal!"
FHA Mortgage Insurance Premium (MIP):
Show MIP who's the boss too! Just pay off enough of your mortgage to reach 20% equity and kindly request its removal. Goodbye, MIP, you won't be missed!
Want to take it to the next level? Refinance to a conventional loan and show MIP that you don't need its company anymore. You're moving on to bigger and better things!
VA Funding Fee:
Ah, the VA funding fee, a one-time fee that sticks around. Unfortunately, it's like that quirky friend who always tags along. It can't be removed, but at least it's just a one-time thing.
Remember, these tips are just the starting point. Always check your mortgage agreement and have a chat with your lender. They'll give you the inside scoop on how to bid farewell to that mortgage insurance with style and a sprinkle of humor. Good luck on your journey to financial freedom!

Reviews

"STAY AWAY! We used Thrive mortgage/Patty Newby to get a short term loan, the basic terms being that we had 6 months to refinance it (or pay it off). We purchased our new home, then put our other home on the market. When we weren't getting buyers or interest in our old home, we needed to find a way to refinance the loan. Asked Thrive for quotes on down payments, they gave us numbers that turned out to be WAY off-saying we needed 40% down. When I asked why, I was advised by Patty Newby to just "pay off my car" (??). We decided to unlist our property to sell it ourselves to an investor. The same day, I received a call from Patty Newby- stating that our house "can't be off the market", and she told me “You have 24 hours to get the house on the market or I will report you". I asked her for our contract so I could understand my rights. For 4 days, I received threatening emails, and calls daily from Patty Newby harassing me to get my house back on the market. After reviewing the contact-it turned out- there was NOTHING in the contract surrounding a requirement that our old home be on the market, or even that we sell it at all. I questioned Patty on this, and she responded with "oh yea, you're on the old paperwork, so its fine". No apologies from her after 4 days of constant demands and threats! The threats and demands made by Patty Newby that were all based on a lie created extreme distress for us and caused delays in us selling our home since we were in fear. Then we find out, she was completely lying to us! Because of the threats, the lies, Thrive giving us incorrect numbers several times, we needed to end our business with them. We used another lender to settle the loan without issue, and no, it didn’t take a 40% down payment to secure a new loan, nor did I need to pay off my car. Patty is HIGHLY incompetent! It is unbelievable that a mortgage company would threaten a customer the way she threatened and harassed us. Steer Clear of this business!"

cristy lovick

"STAY AWAY! We used Thrive mortgage, Patty Newby, to get a home2home loan (short term loan), the basic terms being that we had 6 months to refinance it (or pay it off). We purchased our new home, then put our other home on the market. When we weren't getting buyers or interest in our old home, we needed to find a way to refinance the loan. Asked Thrive for quotes on down payments, they gave us numbers that turned out to be WAY off-saying we needed 40% down. When I asked why, I was advised by Thrive (Patty Newby) to just "pay off my car". I didn't think that was the right thing to do to lower a down payment requirement, very odd financial advice! We decided to unlist our property to sell it ourselves to an investor. The same day, I received a call from Patty Newby- stating that our house "can't be off the market", & she told me “You have 24 hours to get the house on the market or I will report you". I asked her for our contract so I could understand my rights. For 4 days, I received threatening emails, and calls daily from Patty Newby harassing me to get my house back on the market. After reviewing the contact-it turned out- there was NOTHING in the contract surrounding a requirement that our old home be on the market, or even that we sell it at all. I questioned Patty on this, and she responded with "oh yea, you're on the old paperwork, so its fine". No apologies from her after 4 days of constant demands and threats! The threats and demands made by Patty Newby (that were all based on a lie) created extreme distress for us and caused delays in us selling our home since we were in fear. As it turned out, she was completely lying to us! Because of the threats, the lies, +Thrive giving us incorrect numbers several times, we needed to end our business with them. We used another lender to settle the loan without issue, and no, it didn’t take a 40% down payment to secure a new loan, nor did I need to pay off my car. Patty is HIGHLY incompetent! It is unbelievable that a mortgage company would threaten a customer the way she threatened and harassed us - the threats were based on lies or ignorance on her part! Patty didn't even know the terms of the contracts she was basing her threats on. Steer Clear of this business!"

cristy l

"Good communications from Patti"

robert e. p