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Updated over 5 years ago,

HJ Wang's profile image
HJ Wang's profile image
HJ Wang
  • from Nashville TN
  • Member since Jul 11, 2016
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24
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6
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HJ Wang's profile image
HJ Wang's profile image
HJ Wang
  • from Nashville TN
  • Member since Jul 11, 2016
Connect
HJ Wang
  • Nashville TN
6
Votes |
24
Posts
Private Lending & Conventional Mortgage Advice

Can i remove PMI if appraisal is high

HJ Wang
  • Nashville TN
Posted

Im purchasing a home and put 10%. So the house I bought is 440k. I put in 44k. Mortgage is 396K. The bank did the appraisal at 480K. making the balance to be 396/480 = 82.5%. So if I just pay additional 12k to get it down to 80% after the first month, do I need to redo an appraisal?

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