Finally someone talks about this. I was told by US Bank I had to wait until my mortgage was 2 years old or had done upgrades to quality. I’ll call soon since its 2 years next month.
Would the tax appraisal that my city is basing my tax rate come into play? When I bought my house my tax rate was based on the city saying the property is worth 312k. Now they say it's 415k which is well over 20% since it's been paid to under 300 and I'm getting hosed on both ends. City says pay more because it's worth more and the bank says keep paying because we want you to.
The Assessed Value used for property tax calculations is different than the Fair Market Value that's used to by your mortgage lender. The AV is often significantly lower than FMV, so it sounds like just on the equity, you should be able to get your PMI dropped by your lender.
