Renovation & PMI Removal

[Jonathan Rabot]

Hello,

Quick question we are in the process of adding ADU to our SFH. Have not yet started renovation but do have plans. Using a HELOC loan for financing. House was appraised using ARV.

Can I use this appraisal now to remove PMI or does the renovation have to finish? And would I need another appraisal thereafter to request removal of PMI.

thanks for the help!