PMI or Private Mortgage Insurance is something charged by the lender when you put down less that 20% on a home purchase.  With a conventional loan, once you reach 78% loan to value you can aply for the removal of PMI.  On an FHA loan, typicaly PMI will remain on the loan for 11 years and then drop off.  Lately, with property values on the rise, the best way to get rid of PMI is to refiance your existing loan.  Chances are the value of you home has gone up enough to remove PMI and lower your monthly payment.  Hope this helps.  Please contact me with any specific questions.