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Updated over 9 years ago on . Most recent reply

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Luca Mastrangelo
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Luca Mastrangelo
  • Investor
  • Cape cod MA
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Real Estate Deal Analysis & Advice

What if home appraises @ time of sale for 120% sale price.no PMI?

Luca Mastrangelo
  • Investor
  • Cape cod MA
Posted

What if at the time of purchase the home you were buying appraises for greater than 120% of the sale price, are you still liable for PMI?

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Wayne Brooks
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Wayne Brooks#1 Foreclosures Contributor
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

Yes, it's based on lower of purchase price or appraisal.

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