Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgage: Removing PMI on Kentucky Conventional Mortgage Loans : Removing PMI on Conventional Loans https://youtu.be/VVEl6hdZPRU Automatic – Occurs when a borrower hits 78% LTV of the sch... Automatic – Occurs when a borrower hits 78% LTV of the scheduled amortization. Cannot be used if borrower pays down balance to get to 78% faster than scheduled. Borrower requested (original value) – Most often occurs when a borrower pays down a balance faster than scheduled and requests PMI to be removed based on the value used at closing. Borrower requested (new value) – Occurs when a borrower requests PMI removal based on a new appraised value, and the loan has been open for at least two years. Here are additional information about requirements that may or may not be required when a Homeowner is removing PMI on Conventional Loans. The Homeowner should always consult thei...