J
JJ
Guest
I am looking at paying enough on our mortgage to where we would have 20% down of the original purchase price of our residence. I have read conflicting information about this with some people stating that an appraisal is necessary and you will need 20% of the appraised value down to get rid of PMI. Others say it is based on the original purchase price according to law. Our house has lost value in the last two years so I would like it to be based on the original loan amount.