PMI stands for Private Mortgage Insurance.  If you put less than 20% down for a home, chances are your lender tacked on this extra fee to your monthly payment.  This extra fee can be eliminated when your loan balance is 78-80% of the value of your home and it has been at least 2 years since the origination of the loan.  As an example, if you purchased a house five years ago for $200,000 with 10% ($20,000) down, your original balance was $180,000.  If you have paid your balance down under $160,000, you can get your PMI payment waived.  For some folks, this can be an exra $100 to $200 a month.  You will have to call your mortgage company and they may ask you to demonstrate current value with an appraisal.  Contact me if you would like for me to analyze your specific situation.