How do I get rid of my PMI on a M&T mortgage?

[Lipiew]

I know i have to get my mortgage principal down about 20% but how would i start the process of getting rid of that damn PMI. I live in New York and have a M&T bank mortgage of 80,000

[bianca]

there is 3 ways of getting rid of PMI:1. Paying down the principal to 80% like other people suggest.2.Refinancing- if this is beneficial for you (lover interest rate)3.Check how much your house is worth and if the value of the house rise to 75% - you can ask the M&T to remove your PMI.Most likely they would like to see the appraisal report to prove, that the value of your house go up.