@thelegacyinvestingshow: If you bought on a W-2 salary with less than 20% down on a regular loan, you're probably paying PMI. The pilot the White House ordered on Oct. 22 won't fix that, because it would only cover new loans. You don't have to wait for it. You can ask to cancel PMI once you owe 80% of your home's original value, and it has to come off at 78% on your original schedule. If your home went up in value and Fannie Mae or Freddie Mac owns your loan, today's value can count. On a loan that's 2 to 5 years old, you need to owe 75% or less. Before you copy this: → Your servicer sets the exact steps, so ask for them in writing first. → These rules are for a one-unit home. Duplexes and rentals need more equity. → FHA loans follow different rules. VA loans don't have PMI. How much is your PMI each month?

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