Should I pay lump sum to get to 20% equity?

[Brad Cowan]

To keep it simple we are now renting out the first house we bought. At the time we put 5% down and are now only about 10k away from 20% equity. I am wondering if popular opinion would be to pay the 10k so that we are no longer having to pay PMI...Thanks in advance!

[Brent Coombs]

@Brad Cowan, what's to stop the bank from taking your $10k, then (for any reason) just deciding to appraise your home at $10k less? ie. Do you have it in writing from them that in your specific case, making a $10k extra principal-only payment will knock out the PMI?

[Even if so, Michael's "what else" question still applies]. All the best...