Is it possible to get rid of PMI by refinancing?

It depends on what type of loan you have... For most loans, if you believe you are at 80% loan-to-value or better, simply contact your lender and ask the procedure. Many times this involves you paying for an appraisal. Other times it doesn't. Some loans, the only way to get rid of it is with a full refinance of the loan.

If you have a least 20% equity, based on the purchase price, and it is a conventional loan, all you have to do is notify your lender in writing.

IF by any chance that you have a FHA loan,, you can not remove the MI INSURANCE ..

If removing the PMI through your current loan servicer is not an option, definitely contact another experienced lender to discuss your options. Even if you don't have 20% equity in many cases it is possible to eliminate the monthly PMI payment and save you month. Any refinance needs to be of benefit to you.

You can refinance your home to eliminate PMI with any lender. You will be required to have at least 20 percent equity in the home to eliminate PMI.

It depends. If you have a conventional loan and the right amount of equity or the ability to buy out of the mortgage insurance as a one time fee at closing. If you have a current FHA loan you would have to refinance into a conventional loan. Contact a local loan officer and have them present you all of your loan options. Best wishes, Sean