Personal Finance & Money Stack Exchange is a question and answer site for people who want to be financially literate. It only takes a minute to sign up.
Sign up to join this community
I'm kind of curious, does the fact that my home appraised higher affect mortgage insurance payment at all? It appraised for about 2% higher than I'm paying for it, and it'd be nice to remove a year of mortgage insurance, if it's possible.
My loan will be a conventional loan.
It depends on the bank's underwriting policies.
Most banks will use the price paid for LTV calculations. Later on, you usually have an opportunity to cancel PMI if your home's value reaches a certain percentage over the initial valuation.
