Home › PMI Removal Appraisals in New Jersey
PMI Removal Appraisals in New Jersey
A PMI removal appraisal gives the current market value of your home when your loan servicer will consider that value in a request to cancel private mortgage insurance.
Call your servicer first
Before you order an appraisal, ask your loan servicer for its written rules. Federal law's cancellation test at 80% and automatic termination at 78% are based on the home's original value. Using a higher current value depends on your lender's or investor's policy, and some servicers choose or approve the appraiser themselves or require a set report form.
What to ask
- Will you consider current value for this loan?
- Do you need to order or approve the appraiser?
- Which report form do you require?
- What loan-to-value and payment history do you require?
Our report
We appraise the home independently and report the value we find. It may or may not reach the number your servicer requires.
Fees and timing
Most residential appraisals run $600–$900, depending on the property and the assignment. Commercial and industrial appraisals start at $1,750.
The written report is usually delivered within two weeks of the inspection, once we have the property information. We also offer rush appraisals: tell us your deadline when you call or email and we'll confirm whether we can meet it. An additional fee may apply.
Call (732) 638-0442 or send the property details for an exact quote the same business day.
Request a quote
Stern & Dragoset Appraisal Group has served New Jersey since 1929. Call or email with the property address and purpose, and we respond with pricing and turnaround the same business day.