PMI is based on LTV - loan to value. Get some more skin in the game (cash) and/or force the appreciation. Add a deck, remodel the kitchen or bath, do something that will add lots of value.At 80K loan the value only needs to be at or above 100K. Once the value is there refi into a fixed rate with 80% or less LTV and the PMI will go away. Work on your credit as well if you've had any issues that may reduce your ability to qualify.