I’m thinking if less than 20% equity then a higher appraisal will result in a lower PMI/MIP. Of course if equity is greater than 20% and rates are about to rise then pulling money out might be a good idea. Thanks for the FYI on appraisal, I’m just hoping they don’t rely too heavily on comps as those probably won’t look too good. By the way did you get 2 appraisals because you thought the first was too low?
