Sarasota County PMI Information Orth & Associates, Inc. Florida Residential Real Estate Appraisers
Orth and Associates

R. Brian Orth
Orth & Associates, Inc.

State-certified residential real estate appraiser #2646
232 N. Boulevard Of The Presidents
Sarasota, Fl. 34236

Orth and Associates

Over 25 Years Experience Appraising Homes in Florida



 

 


Sarasota County , Manatee County, Charlotte County, Pinellas County and surrounding areas Residential Real Estate Property Appraisers


OrthAndAssociates TM Florida APPRAISERS

Private Mortgage Insurance Removal. Are you still paying PMI premiums every month with your mortgage payments even though your Florida house has appreciated in value? Read the following from orthandassociates TM, certified Florida real estate appraisers, and see if you might be able to save $30, $60, or even $100 per month or more!

Conventional Manatee, Charlotte, Pinellas and Sarasota County Florida Home Loans Only.

If you have a Florida FHA home loan, click here for HUD's Website: http://www.hud.gov/index.html

Manatee, Charlotte, Pinellas and Sarasota County Florida homeowners have been needlessly paying private mortgage insurance (PMI) for years on their Manatee and Sarasota County Florida home loans! These are monthly charges included with your mortgage payments.

The Home Owner Protection Act, dated July 28, 1998, and effective July 29, 1999, requires an annual notification of private mortgage insurance removal. Private mortgage insurance is no longer necessary once homeowners have 20% equity in their house. Automatic notification of cancellation only applies to loans originated after July 29, 1999. On Manatee and Sarasota County Florida home loans originated before that date, the homeowners must request cancellation.

How much can I save on my Manatee or Sarasota County Florida home loan monthly payment?

Contact your lender for the exact amount. Private mortgage insurance rates usually vary between $0.35 - $0.80 per $100 (depending upon your loan amount).

 

Monthly PMI Cost to Florida Home Owners
Original Loan Amount 5% Down 10% Down 15% Down
$100,000 $60 $40 $30
$150,000 $90 $60 $45
$200,000 $120 $80 $60
What do I need to do to drop private mortgage insurance?

 

    1. Contact your Florida lender (bank, mortgage company, credit union, loan servicing company, etc). Verify that you are paying private mortgage insurance. Request they remove it.

    2. If that doesn't work, Find you tax accessed value for your Florida property. If the tax appraisal value supports PMI removal, provide this to the mortgage company and request they remove the PMI premiums.

    3. If that doesn't work, contact the local Manatee and Sarasota County Florida REALTOR with the most signs in your neighborhood. Negotiate a fair price (usually $100 to $150) for a Broker's Opinion of Value. Assuming this supports PMI removal, provide this to the mortgage company and request they remove the PMI premiums.

    4. If that doesn't work, (and it should seldom be necessary) contact us or another certified Manatee, Charlotte, Pinellas and Sarasota County Florida appraiser to provide you and the mortgage company with a certified Florida real estate appraisal of your Manatee, Charlotte, Pinellas and Sarasota County Florida property.


Call Us Today For All Your 
Residential Real Estate Appraisal Needs
State-certified residential real estate appraiser #2646


Cell 941-920-5342


rbrianorth@gmail.com


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