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Henry E. Deecke, Pa. Certified General Real Estate Appraiser
176 Pike Street, Carbondale, PA 18407-2754 U.S.A.
Phone: 570-282-4116       Fax: 570-282-0970       Email: henry@DeeckeAppraisals.com
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What is PMI Insurance?

Private Mortgage Insurance (PMI) is a mandatory insurance that is added to some homeowners monthly mortgage payments and protects the lenders and investors in the event that the homeowner defaults on their loan.

Most homeowners who purchase property with less than 20% down (more in some cases) are required to have a private mortgage insurance policy on their mortgage loan until a point where the homeowner has at least 20% equity in the property. At this point, the homeowner may be eligible to remove the private mortgage insurance policy.

In many cases, while the homeowner pays down their mortgage their property is increasing in value. If the homeowner makes a substantial improvement to the property, the property should increase in value. Why pay an unnecessary monthly expense that is expensive and unwarranted?

To determine if you are paying private mortgage insurance first review your monthly statement. If PMI is not listed on your statment, contact your lender as your payment may be hidden in an escrow account for your loan. You should ask your lender what their specific guidelines are for the removal of PMI.

Generally, as part of removing PMI, the lender will require the borrower to obtain a real estate appraisal by a State Certified Real Estate Appraiser. This is where I can help you. With information that you supply me, I can consult with you as to whether or not it would be advisable to have an appraisal done on your property. The initial consultation is free and with no obligation to you. Naturally, I would like to be your appraiser if you feel that you want to proceed with the process.

To determine if you may have enough equity in your property to remove PMI insurance, Please answer all of the questions as completely and accurately as possible and click the "Submit" button located at the bottom of the form. We will contact you as soon as possible after receiving your information.

NOTE: Fields marked with * are required

Your name: * Your e-mail:
Street Address: * Your phone #: *
City: * State: * Zip: *
Lot #: Section #: Development:
Date Purchased: * Purchase Price: *
Loan Balance: * Lender's Name:
Date of Mortgage: * Site Size: *
Property Type: *
Style Dwelling: *
Estimated Square Feet of Dwelling (excluding basement and attic):
Number Rooms (excluding basement rooms, attic rooms and baths):
Number Baths (excluding basement and attic baths):
Number Bedrooms (excluding basement and attic bedrooms):
Age (years): Condition:
Garage Spaces: Fireplace:
Basement: Basement Finish:
Porches/Patios/Decks: Pool:

Improvements Made Since Purchase:

** Please explain any "other" selections from above **

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