Andy buys a house forn410k the appraised amount is the same. he just 15% down and takes out a conventional loan for the balance. does he need pmi insurance? why or why not? if andy is required to have 25 % coverage what is the policy amount for the mortgage insurance? what would that mean if the house goes into foreclosure?

what if Andy has been making the loan payments on time for the past 5 years and he paid hia

loan down to 323,900.00. the original value we 410k it's now valued at 460k is pmi automatically cancelled? would it be cancelled if Andy requested it?