<prompt> Human: We purchased a home for 275,000 conventional loan earlier this year. I was only able to put 5 down -stupid, I know- without eating too much into savings plus all the money we had to spend to buy appliances and furniture basically starting from scratch, it was all we could do at the time. Now that we have kind of stabilized and are back to saving, I was wondering what the best course of action to remove my PMI is. Should I save on the side and apply it towards a down payment on a re-finance is that even possible? or Should I put more towards the principal everytime I make my mortgage payments?  <response>: Assuming theres not somewhere you could safely put the money where it would earn more than the interest rate youre paying on the mortgage, put the money towards the principal. 