Yes. On a conventional loan, a new appraisal down the road is exactly how the current-value PMI removal path works. A low appraisal at purchase just means you start from a higher loan-to-value, so the value side has further to travel. There are two separate ways PMI ends, and keeping them straight matters: - The automatic path, based on ORIGINAL value. Under the federal Homeowners Protection Act, PMI cancels automatically once your balance amortizes down to 78 percent of the home's original value, and you can request cancellation at 80 percent of original value. - The current-value path, based on a new appraisal. Per Fannie Mae's servicing guide, you can request removal using today's value, confirmed by a valuation your servicer orders. The thresholds depend on how long you have had the loan: two to five years in, you need 75 percent loan-to-value or lower; past five years, 80 percent or lower. Inside two years, current value only counts when the gain comes from documented property improvements, and the bar is 75 percent. An acceptable payment history is required throughout. The cost of that appraisal is usually small next to the monthly PMI, so once you think you are close, order the valuation and make the request. In the meantime, track your value so you know when to move instead of guessing. Jeb offers a home-value tracking tool on his site for exactly that. We cannot promise values rise on any timeline, so treat it as watch and act.