There is an specific term for me to cancel a PMI payment after the closing? Let say that I bought this property 6 months ago and today the value have reach to justify a 22% equity, I am eligible to request PMI cancellation ?
Angel, there is generally no "minimum" term you must pay PMI before it can be cancelled, as long as you have enough equity in the property. To know for sure, you should call your lender to ask about terms and conditions, and how to request cancellation if you qualify.