Home Value Inc provides certified PMI removal appraisals for residential property owners in Miami-Dade County, Florida.
A PMI removal appraisal from Home Value Inc documents the property’s current market value, enabling the homeowner to submit evidence to a mortgage lender requesting cancellation of private mortgage insurance.
To order a PMI removal appraisal, call (786) 357-6511.
A PMI removal appraisal is a certified written report that documents the current fair market value of a residential property to cancel private mortgage insurance.
Home Value Inc produces PMI removal appraisal reports for Miami-Dade County homeowners who believe their property has appreciated sufficiently to reduce their loan-to-value ratio below the threshold required for PMI cancellation.
Private mortgage insurance (PMI) is a lender-required premium added to conventional mortgages originated with less than a 20 percent down payment.
Once a homeowner reaches 20 percent equity — either through mortgage payments or property appreciation — federal law grants the right to request PMI cancellation.
A certified PMI removal appraisal is the standard form of evidence mortgage lenders require to evaluate the request.
Cancellation Method | LTV Required | Initiated By | Appraisal Required? |
Automatic cancellation | 78% | Servicer — required by law | No |
Borrower-requested cancellation | 80% | Homeowner’s written request | Yes — certified appraisal |
Appreciation-based cancellation | 80% or below | Homeowner’s written request | Yes — certified appraisal |
Refinance into a new loan | Below 80% on the new loan | Lender underwriting | Yes — new appraisal |
Source: Homeowners Protection Act of 1998. The 78% automatic cancellation and 80% borrower-request thresholds apply to conventional mortgages. FHA mortgage insurance uses separate FHA rules and does not follow HPA PMI cancellation thresholds.
Home Value Inc follows a five-step process for every PMI removal appraisal engagement.
The process begins with a review of the homeowner’s mortgage details and ends with delivery of a USPAP-compliant certified written report ready for direct submission to the mortgage servicer.
Step | Action | Performed By |
1 | Review mortgage balance and LTV — confirm appraisal is appropriate for PMI removal | Home Value Inc |
2 | Schedule and conduct on-site property inspection | Jhovan F. Rojas, CRA, License No. RD6109 |
3 | Comparable sales analysis using recent Miami-Dade County transactions | Home Value Inc |
4 | Deliver a certified written USPAP-compliant appraisal report to the homeowner | Home Value Inc |
5 | Submit a certified report and a written cancellation request to the mortgage servicer. | Homeowner |
Speak With An Appraiser — Call (786) 357-6511 — Provide your property address, current mortgage balance, and original purchase price. Home Value Inc will confirm whether a PMI removal appraisal is the right next step.
A PMI removal appraisal is appropriate when a homeowner has reason to believe that property appreciation — rather than mortgage paydown alone — has driven the loan-to-value ratio below 80 percent.
Many Miami-Dade County homeowners see equity rise faster than their amortization schedule due to market appreciation or documented improvements, which can bring the loan-to-value ratio below 80% earlier than expected.
Home Value Inc recommends ordering a PMI removal appraisal in four situations:
(1) The property has appreciated in a rising market, and the current estimated value places the LTV below 80 percent;
(2) The homeowner has completed renovations — a remodeled kitchen, added bathroom, or structural improvement — that have materially increased market value;
(3) The homeowner intends to refinance and wants to confirm the new loan will not carry PMI
(4) The mortgage servicer requires a formal appraisal before processing a PMI cancellation request.
If you are unsure about timing, call first with your address, current mortgage balance, and original purchase price. Home Value Inc will confirm whether a PMI removal appraisal is likely to support your PMI cancellation goal.
The loan-to-value ratio (LTV) is the metric mortgage lenders use to determine both when PMI is required and when it can be removed. LTV is calculated by dividing the outstanding mortgage balance by the property’s current appraised value.
Example: A homeowner purchased a Miami-Dade property for $400,000 with a 10 percent down payment, resulting in a $360,000 mortgage and an initial LTV of 90 percent.
After several years of payments and market appreciation, the outstanding balance is $320,000, and a Home Value Inc appraisal documents a current market value of $430,000.
The resulting LTV is 74 percent — well below the 80 percent threshold — making that homeowner eligible to request PMI cancellation immediately.
Under the Homeowners Protection Act of 1998, mortgage servicers are required to automatically cancel PMI when the LTV reaches 78 percent based on the original amortization schedule.
Homeowners can request cancellation earlier — at 80 percent LTV — by submitting a certified appraisal report demonstrating the property’s current market value.
For a deeper explanation of how appraised value interacts with loan balance, see the Home Value Inc guide to PMI and appraised value.
Every Home Value Inc PMI removal appraisal report contains the following documented components, formatted for direct submission to a mortgage servicer:
Report Component | What It Documents |
On-site inspection | Square footage, condition, layout, features, and improvements |
Comparable sales analysis | 3–5 recent arm’s-length sales in the Miami-Dade market area |
Adjustment analysis | Value differences between comparable sales and the subject property |
Property sketch | Exterior dimensions and gross living area calculation |
Concluded value opinion | Fair market value stated as a specific dollar amount |
Appraiser certification | USPAP compliance, independence statement, License No. RD6109 |
Home Value Inc PMI removal appraisal reports conform to the Uniform Standards of Professional Appraisal Practice (USPAP) as established by the Appraisal Standards Board.
Most conventional mortgage servicers accept a borrower-ordered, USPAP-compliant appraisal as evidence when reviewing a PMI cancellation request, but documentation rules and ordering requirements vary by servicer and loan type.
[CTA] Request an Appraisal Quote — Submit your property address and current mortgage balance. Home Value Inc will respond within one business day with a fee estimate and available inspection dates.
Home Value Inc. appraisal fees for PMI removal engagements vary by property type, size, location, and delivery timeline.
The table below outlines how each factor affects the final fee. Understanding these variables helps homeowners assess whether the cost of a certified appraisal is justified by the potential monthly savings from PMI cancellation.
Property Type / Condition | Fee Impact |
Single-family home, standard size | Base fee |
Condominium or townhouse | Moderate increase — additional HOA and comp analysis |
Multi-family property (2–4 units) | Moderate increase |
Waterfront or island property | Higher increase — limited comparable sales require an extended search |
Rush or expedited delivery | Additional fee — confirm availability when ordering |
Complex layout or non-standard features | Case-by-case — confirmed at time of quote |
Contact Home Value Inc at (786) 357-6511 for a fee quote specific to the subject property.
For context on how Miami-Dade PMI costs compare to the cost of an appraisal, see the Home Value Inc overview of PMI in Florida.
Home Value Inc completes PMI removal appraisals on a defined timeline so homeowners can plan their mortgage servicer submission accordingly.
Scheduling: Home Value Inc schedules the on-site property inspection within 1–2 business days of order confirmation and fee payment.
Inspection: The on-site inspection of a standard residential property typically takes 30–60 minutes. Larger or more complex properties may require additional time.
Report delivery: Home Value Inc delivers the completed certified written appraisal report within 3–5 business days of the inspection date.
Total turnaround: The total time from order placement to report delivery is typically 5–7 business days for standard residential properties in Miami-Dade County.
For a full explanation of what affects appraisal turnaround in South Florida, see the Home Value Inc article on how long an appraisal takes.
A certified appraisal report from Home Value Inc documents the market value component of a PMI cancellation request.
Mortgage servicers typically impose additional requirements before approving removal. Homeowners should confirm all criteria with their servicer before ordering an appraisal.
Satisfactory payment history: Mortgage servicers commonly require a strong payment history, often 12 consecutive on-time payments, before approving a PMI cancellation request. Recent late payments may disqualify an otherwise eligible borrower.
Fannie Mae imposes loan seasoning requirements that govern PMI removal eligibility based on how long the mortgage has been active:
Loan Age | LTV Required For PMI Removal |
Less than 2 years | PMI removal based on appreciation is not available |
2 to 5 years | 75% LTV or below |
More than 5 years | 80% LTV or below |
Source: Fannie Mae Selling Guide. Homeowners with Fannie Mae-backed mortgages should confirm the applicable seasoning requirement with their servicer.
No subordinate liens: Servicers require that no secondary liens — including second mortgages, outstanding HOA dues, IRS tax liens, or mechanic’s liens — encumber the property at the time of the PMI cancellation request.
Written cancellation request: Most servicers require a formal written request to initiate PMI cancellation. Home Value Inc recommends contacting the servicer before ordering an appraisal to confirm their specific submission requirements and approved appraiser list.
If a servicer denies a PMI cancellation request after you submit the required documentation, the homeowner can request the denial reason in writing and may escalate the issue through the Consumer Financial Protection Bureau complaint process.
Home Value Inc PMI removal appraisals are performed by Jhovan F. Rojas, Certified Residential Appraiser, Florida License No. RD6109. License status can be verified through the Florida Department of Business and Professional Regulation.
A PMI removal appraisal is a certified written report produced by a licensed appraiser that documents the property’s current fair market value. Mortgage servicers require a formal appraisal because only a USPAP-compliant report from a licensed appraiser constitutes acceptable evidence for LTV recalculation.
Conventional mortgage borrowers need a loan-to-value ratio of 80 percent or below to request PMI cancellation from their servicer. Servicers are required to cancel PMI automatically when the LTV reaches 78 percent under the Homeowners Protection Act. If Miami-Dade property appreciation has pushed your LTV below 80 percent ahead of your amortization schedule, a Home Value Inc certified appraisal report documents that value for servicer submission.
Yes. Renovations that increase a property’s market value — remodeled kitchens, added bathrooms, structural additions, or major system upgrades — can reduce the LTV ratio by raising the property’s appraised value. Home Value Inc documents improvement-driven appreciation through an on-site inspection and a current comparable sales analysis.
Home Value Inc delivers the certified written appraisal report to the homeowner. The homeowner then submits the report to their mortgage servicer along with a written PMI cancellation request. Home Value Inc recommends confirming with the servicer in advance that a borrower-ordered appraisal is accepted, as some servicers require the appraisal to be ordered through their own approved panel.
A Home Value Inc certified appraisal report is produced by a licensed appraiser who physically inspects the property, analyzes verified comparable sales, and signs a USPAP-compliant opinion of value. Automated valuation models, such as Zillow estimates, generate algorithm-derived figures without inspection and are not accepted by mortgage servicers as evidence for PMI cancellation.
PMI removal rules differ between conventional and FHA loans. FHA loans carry mortgage insurance premiums (MIP) governed by separate FHA guidelines, and a standard appraisal does not automatically trigger MIP removal for most FHA borrowers.
If the certified appraisal report documents a value that puts the LTV above 80 percent, the homeowner has not yet met the equity threshold for PMI cancellation based on appreciation. The homeowner can continue making scheduled payments, make additional principal payments to accelerate paydown, or revisit the appraisal after additional market appreciation or completed improvements.
Homeowners who refinance receive a new appraisal as part of the lender’s underwriting process. If the new appraisal documents a value that places the refinanced loan below 80 percent LTV, the new mortgage will not carry PMI.
Home Value Inc accepts PMI removal appraisal orders by phone, email, and online inquiry form. To place an order, provide the property address, the current mortgage balance, the original purchase price, and the intended submission date to the mortgage servicer.
Request an Appraisal Quote — Submit the contact form with your property address and mortgage balance. Home Value Inc responds within one business day with a fee estimate and available inspection dates.
Whether you’re purchasing a home, selling real estate, developing land as an investment, or conducting any other type of real estate transaction in Miami Beach, a professional property appraisal will streamline the process and establish the fair market value of any property.
Most official real estate forms and documents include a line item of the estimated property value, yet only a licensed and certified appraiser is qualified to provide a completely objective evaluation along with a detailed and comprehensive written report.
Home Value Inc. performs residential and commercial appraisals for its clients in greater Miami-Dade County and the following cities in South Florida. We provide services to the following cities -
