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Updated over 6 years ago,
I need help to get rid of my PMI please advise
Hello, All- I purchased a condo in my city for 134k after my 5% downpayment. Because of that I have PMI. I have been in my unit four 16 months now. In the last 16 months there have been multiple units selling in my building for 175K +. Although I am on the first floor I have done some renovations to my unit. A friend of mine who’s a realtor is telling me I have major equity. Please see questions below.
1. How do I get rid of my PMI?
2. And I secure a HELOC from my equity?