Michael Inkman

Fairway Independent Mortgage Corp.

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Michael Inkman | Fairway Independent Mortgage Corporation
5.0
Based on 103 reviews
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Lee Vanvolkenburg
15:43 23 Nov 23
Michael and his team were wonderful to deal with. They were excellent with communication and always available to answer questions. Thank you all!
williams lovos
22:54 16 Nov 23
We close on the house tomorrow! Thank you David and Michael for making my first home buying a smooth process. I had several out of the ordinary situations that would had easily not been possible to get the loan in the time that they were able to approve it. My wife and I are forever grateful for the work the team did. Thank you again!
Mario Silvestri III
16:45 16 Nov 23
Rex Perkins
16:56 15 Nov 23
Everything had been going well over the past two years since refinancing an existing mortgage. The application process, approval, servicing website, everything had been very smooth, nothing but the best service. I then had a minor issue arise. We had a wind loss claim on our home and, unfortunately, I had put off getting the check cosigned until the last minute. An issue arose as part of a minor miscommunication in terms of where the check was to be forwarded for endorsement.

To make a long story short, I feared that this miscommunication and misdirected check coupled with my procrastination were going to result in the check expiring and a huge hassle on my part to go through the process again. Mr. Inkman nor his branch were in any way involved with my account or account management, yet, the check inadvertently ended up in their draft loss department and I feared this would further delay things. I was a bit frantic.

One of those that I emailed was Mr. Inkman. In an era when customer service is not as valued as in the past, I was very skeptical I would meet the deadline. But, to my surprise, Mr. Inkman took it on his own to personally get things done and get the issue resolved. It appears that he tracked down the overnighted check personally, directed it for signature, packaged and overnighted the check back to me. All the while remaining professional and pleasant and providing consistent email updates on the status. It doesn't even look like he delegated, rather taking the initiative and seeing it through on his own.

To me, that's not just doing a job, that's going above and beyond in terms of leadership, professionalism, and customer service. We could not be more happy. And, as a further sign of good will, the Fairway CEO actually emailed me personally to follow-up and assure resolution. Been very happy with Fairway since my refinance, Mr. Inkman's efforts only further reinforce that opinion.
Samer Fallouh
15:01 15 Nov 23
Debbie Salas
21:47 03 Oct 23
This transaction probably would not have happened without Michael. Whenever we hit a stumbling block, he found a way around it! He kept us informed and was a positive light all the way through to the end and beyond.
Thanks
Eric Kieffer
22:46 16 Aug 23
Did business with Michael about 20 years ago and he was happy to help us again. He and his team did a great job. See you in another 20.

How to Remove PMI Without Refinancing

July 30, 2025 by Michael Inkman

Private mortgage insurance, or PMI, is often required when a homebuyer makes a down payment of less than twenty percent. While PMI helps lenders reduce risk, it adds extra cost to your monthly mortgage payment. The good news is that you may be able to remove PMI without refinancing your loan. Understanding the options available can help you save money and accelerate building equity in your home.

Understand When PMI Can Be Removed
Federal law, specifically the Homeowners Protection Act, requires lenders to automatically cancel PMI once your loan balance reaches eighty percent of the original home value. You can also request cancellation when you believe you have reached this threshold through paying down the loan or if your property has appreciated in value.

Request PMI Cancellation Through Your Lender
If you have built equity to at least twenty percent of the home’s original purchase price, you can formally request that your lender remove PMI. To do this, you typically need to submit a written request and may have to prove the home has not declined in value. Your lender may require a home appraisal to confirm current value.

Use Home Appreciation to Your Advantage
If your property value has increased significantly since purchase, you might qualify for PMI removal sooner. A professional appraisal can demonstrate this increase in equity. Keep in mind that lenders generally want to see that you have at least twenty percent equity in the home before canceling PMI.

Make Extra Principal Payments

Consider Loan Recast if Available
Some lenders offer loan recasting, which recalculates your monthly payments based on your current loan balance after a lump sum payment. While recasting does not remove PMI by itself, lowering your principal faster can bring you closer to that twenty percent equity goal.

Stay Informed and Keep Documentation
Keep track of your loan balance, home value, and payment history. Staying informed empowers you to know when you are eligible to request PMI removal. Document all communications with your lender to avoid misunderstandings.

Consult Your Mortgage Professional
Every loan and lender may have different rules regarding PMI removal. Working with your mortgage expert can help you understand your specific loan terms and options. They can guide you through the process and help you make decisions that save you money.

Removing PMI without refinancing is a smart way to reduce your monthly expenses without the cost or hassle of a new loan. By monitoring your equity and staying proactive, you can enjoy greater savings and faster progress toward full homeownership.

Filed Under: Personal Finance Tagged With: Home Equity, Mortgage Advice, PMI Removal

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Michael Inkman

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michael@michaelinkman.com
Mobile: (214) 762-4659
NMLS #152707

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The content on this website is written by Michael and reflects his opinion, and not the opinion of Fairway Independent Mortgage Corporation.

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Carrollton, TX 75007

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