If Freedom Mortgage services your loan, you can cancel PMI without refinancing once you have the equity. Freedom Mortgage has been known to accept a lower-cost broker price opinion for PMI removal, which can keep the out-of-pocket cost down.
Servicer policies, fees, and timelines change over time. Use this as a general guide and confirm the current process and costs directly with Freedom Mortgage before you act.
Step 1: Estimate Your LTV
Start with your loan-to-value ratio — current balance divided by current home value. At or below 80%, you likely have grounds to request cancellation. Your statement or online account shows the balance.
Step 2: Submit Your Request
Contact Freedom Mortgage's servicing department to begin a PMI cancellation request, and put the request in writing with your loan number and a statement that you're requesting cancellation based on current value.
Step 3: Ask About the BPO
A broker price opinion can cost far less than a full appraisal — potentially in the range of roughly $100 to $150. Ask Freedom Mortgage directly whether a BPO is acceptable for your request; if it is, that's a meaningful saving over a full appraisal.
Step 4: Requirements and Timeline
- A seasoning period before a current-value request is considered.
- A good recent payment history.
- A servicer-ordered valuation confirming 80% LTV or lower.
Once the valuation is underway, the process commonly takes around a month, though this varies by case.
Step 5: Follow Through
Follow up if the request goes quiet, keep notes of every interaction, and ask for written confirmation once PMI is removed and your payment is adjusted.
The Bottom Line
Freedom Mortgage's potential BPO option makes PMI removal here relatively affordable. Confirm your equity, submit a clean request, ask about the BPO, and follow up to confirmation.
PMI Ninja manages Freedom Mortgage cancellations from start to finish — confirming current requirements, steering toward the lowest-cost valuation, and following up until PMI is confirmed removed.
Ready to eliminate your PMI?
Two-minute check. No credit pull. We only get paid if your PMI is officially removed.