Private mortgage insurance is a monthly cost that many South Florida homeowners continue paying long after their equity has grown enough to eliminate it. Lenders are required to cancel PMI automatically when the loan-to-value ratio reaches a certain threshold based on the original amortization schedule, but that timeline is calculated on the original purchase price — it doesn't account for market appreciation. Homeowners who bought during a period of rising values, or who made improvements that increased the property's worth, may have the equity to drop PMI years ahead of the automatic cancellation date without realizing the lender will accept an independent appraisal as the basis for requesting removal.
A PMI removal appraisal is a current-market valuation prepared to the format lenders and loan servicers require for this specific type of request. Slater Appraisals, Inc. inspects the property, documents its current condition, and prepares a written report with supporting comparable sales that reflects what the home is worth in today's West Palm Beach or South Florida market. The report is structured so it can be submitted directly to the servicer without modification. Because the PMI payment itself represents a recurring monthly cost, many homeowners find that the appraisal fee is offset relatively quickly once the insurance is removed.
The South Florida housing market has seen significant value increases across much of Palm Beach County and Broward County in recent years, which means a meaningful number of homeowners are carrying PMI on equity that no longer justifies it. Getting a current appraisal is the most direct path to requesting removal, and the process is straightforward when the report is prepared correctly. The outcome a homeowner is looking for is simple: a monthly mortgage statement that no longer includes the PMI line item. A well-prepared appraisal from Slater Appraisals, Inc. gives the servicer what it needs to make that happen.
What's Included
Every pmi removal appraisals visit includes
Current market value report
Formatted for lender submission
Often pays for itself in a few months
Fast scheduling and turnaround
Fee quoted per assignment
Service Area
Serving Palm Beach & Broward County
West Palm BeachBoca RatonDelray BeachBoynton BeachWellingtonJupiterFort LauderdalePompano BeachCoral SpringsHollywood
The Process
How a PMI removal appraisal works
1
Check your servicer's rules
Every mortgage servicer publishes requirements for canceling private mortgage insurance — typically an equity threshold, a seasoning period, and a current appraisal. Robin can tell you what evidence you'll need once you've reviewed them.
2
Inspect and value the home
The appraisal documents current market value, including appreciation and any improvements since you bought — the two forces that build equity faster than principal payments alone.
3
Run the equity math
Current value against your loan balance shows exactly where your loan-to-value ratio stands.
4
Submit to your servicer
You send the servicer the appraisal with your cancellation request. Note that some servicers require an appraisal ordered through their own channel — check first, and use this report to confirm your case before you pay their fee.
The Equity Math
Why South Florida owners hit the threshold early
PMI exists to protect the lender until you have meaningful equity. Under federal law you can request cancellation once your loan-to-value ratio reaches 80% — and three things get you there faster than the amortization schedule:
Market appreciation — South Florida values have moved substantially in recent years
Improvements — kitchens, baths, impact windows, roofs add documented value
Extra principal payments made along the way
A current appraisal is how you prove it — your servicer won't take Zillow's word for it
Monthly PMI saved is money back in your pocket every month for the life of the loan
Frequently Asked Questions
Questions about this service
Under the federal Homeowners Protection Act you may request cancellation when your balance reaches 80% of the home's value, and servicers must terminate it automatically at 78% of the original value. Many servicers will also consider current market value after a seasoning period — that's where a new appraisal comes in. Check your servicer's specific requirements first.
Policies differ. Some accept an independent report; others insist on ordering their own. Even in the second case, an independent appraisal first tells you whether the request is worth making — before you pay the servicer's appraisal fee on a case that won't clear the threshold.
Yes — documented improvements are reflected in current market value. Keep permits and receipts; they help support the condition and quality ratings in the report.
FHA loans follow different rules — for most FHA loans originated after 2013 with minimal down payments, the insurance premium lasts the life of the loan and removing it means refinancing into a conventional loan. An appraisal still plays the same role: proving you have the equity to make the move. Robin handles both Conventional and FHA work.
Complete appraisal reports for single-family homes and residential properties throughout Palm Beach and Broward County, prepared with more than four decades of local market knowledge. Includes a full interior and exterior inspection, photographs, sketch, market analysis, and comparable sales research specific to the subject's neighborhood. Reports are written to be defensible for lenders, attorneys, or private use. Typical turnaround is a few business days after inspection, depending on complexity. Every report is prepared personally by Robin Slater.
Retrospective valuations for estate settlement and probate, giving attorneys, executors, and families a defensible value as of the date required. Reports are prepared to IRS-friendly standards with historical comparable sales pulled from the effective date, not today's market. Used for step-up in basis calculations, estate tax filings, and distribution among heirs. Delivered in a format that won't slow down a probate filing or trigger follow-up questions from an accountant or auditor.
Independent, unbiased valuations for equitable distribution. Clear, well-supported reports that stand up in negotiation and in court. Robin works with attorneys on both sides and with mediators, and can serve as a neutral joint appraiser when both parties agree. Reports include full supporting documentation and can be accompanied by testimony if the case requires it. Confidential handling, professional communication with counsel, and turnaround that respects court and mediation deadlines.
Know what your home is really worth before you list. An objective valuation that helps sellers price with confidence and avoid leaving money on the table, or chasing the market down with price cuts. Unlike a broker's opinion, a pre-listing appraisal is prepared by a disinterested third party with no commission at stake. Useful for owners considering a sale, negotiating with a buyer directly, or evaluating an offer that came in below expectations.
An independent appraisal to support a property tax appeal when your assessed value looks out of line with the market. Palm Beach and Broward County assessments can lag or overshoot actual values, especially in fast-moving neighborhoods. A defensible appraisal, prepared as of the assessment date, gives you the evidence needed to petition the Value Adjustment Board or negotiate directly with the property appraiser's office. Timing matters, so call early in the appeal window.
Valuations for condos and townhomes across South Florida's condo-dense coastal markets, with attention to association factors that affect value. That means looking at HOA financials, reserves, special assessments, milestone inspection status, insurance, and rental rules, all of which move the number in Boca Raton, Fort Lauderdale, Hollywood, and points between. Comparables are drawn from within the building or complex where possible, and adjusted carefully for view, floor, and exposure.
