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@adriaan Ask your loan officer. They can sometimes provide a slightly higher rate without pmi. That would still save you in the end if the pmi is a few hundred a month for nothing. At least your interest is deductible

@adriaan Do what you can do avoid the pmi. Even if your home increases by 20%, it should technically drop it off then, but it most likely won't because loans are structured so that you have it for at least 3 or 5 years in that scenario. You'd then have to refinance to get it off, but seeing as...