2nd rental and appraisal came back 10k higher...mortgage ?

[DJ Witty]

Appraisal is at 97k. Bought it for 87k so we’ve got 10k in equity. Bank still wants 15% cash at closing from purchase price, so around 14k.

Is that normal? I figured that with 10k in equity we wouldn’t have to bring that much money. Only a few thousand bucks to get to 15% equity.

Thoughts and input is appreciated!