The Federal Trade Commision states: when you have reached 20% of equity, you should order an appraisal report by a qualified appraiser. You may reach 20% equity sooner than you think in an active real estate market with increasing values. This is where a qualified appraiser can help you save money. the appraisal report will establish the present market value of your house and save you hundreds of dollars over the years by eliminating PMI. |