Quote Originally Posted by Trish29
Naa.. With PMI you just request it to be canceled once the value of the home or the equity or a combination of both make it where you've reached 80% LTV. You don't have to refinance the loan in order to get it canceled.
Unless you have an FHA loan, in that case you're screwed and can't cancel it like that.

BTW The low 3rd mortgage interest is what caused me to go with a pool builder instead of DIY. I was ready to build it myself but interest rates for self builders are sky high and wasn't worth it.