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  • January 8, 2010 at 2:20 PM #501207
    SK in CV
    Participant

    Usually the lender will arrange for the appraisal and charge you for it. Normally, you won’t get to choose. Lenders are not required to cancel PMI until the loan balance falls below 78% of the original purchase price. You can request cancellation when it falls below 80%. (You may still have to pay for an appraisal because lenders are not required to cancel if current value is less than what you paid.)

    You can also go the route you’re going, but most lenders, as allowed under federal law, can also require that the loan be at least 2 years old, with a good payment record of no lates in the last year. If your lender has that stipulation, you’re out of luck for the moment.

    January 8, 2010 at 2:48 PM #500335
    LAAFTERHOURS
    Participant

    PMI can be removed anytime.

    January 8, 2010 at 2:48 PM #500488
    LAAFTERHOURS
    Participant

    PMI can be removed anytime.

    January 8, 2010 at 2:48 PM #500883
    LAAFTERHOURS
    Participant

    PMI can be removed anytime.

    January 8, 2010 at 2:48 PM #500977
    LAAFTERHOURS
    Participant

    PMI can be removed anytime.

    January 8, 2010 at 2:48 PM #501222
    LAAFTERHOURS
    Participant

    PMI can be removed anytime.

    January 8, 2010 at 3:47 PM #500360
    (former)FormerSanDiegan
    Participant

    [quote=LAAFTERHOURS]PMI can be removed anytime.[/quote]

    How much is the monthly PMI, relative to the cost of appraisal ?

    January 8, 2010 at 3:47 PM #500512
    (former)FormerSanDiegan
    Participant

    [quote=LAAFTERHOURS]PMI can be removed anytime.[/quote]

    How much is the monthly PMI, relative to the cost of appraisal ?

    January 8, 2010 at 3:47 PM #500908
    (former)FormerSanDiegan
    Participant

    [quote=LAAFTERHOURS]PMI can be removed anytime.[/quote]

    How much is the monthly PMI, relative to the cost of appraisal ?

    January 8, 2010 at 3:47 PM #501002
    (former)FormerSanDiegan
    Participant

    [quote=LAAFTERHOURS]PMI can be removed anytime.[/quote]

    How much is the monthly PMI, relative to the cost of appraisal ?

    January 8, 2010 at 3:47 PM #501247
    (former)FormerSanDiegan
    Participant

    [quote=LAAFTERHOURS]PMI can be removed anytime.[/quote]

    How much is the monthly PMI, relative to the cost of appraisal ?

    January 8, 2010 at 5:25 PM #500381
    LAAFTERHOURS
    Participant

    3% is roughly 25K and 130 a month. Appraisal is what 300-400? I can live with the PMI for a while – just was analyzing all the sales around us and thought I should get some input so Im prepared for whenever it comes time to appraise.

    My motto is Be Prepared (eagle scout)

    January 8, 2010 at 5:25 PM #500532
    LAAFTERHOURS
    Participant

    3% is roughly 25K and 130 a month. Appraisal is what 300-400? I can live with the PMI for a while – just was analyzing all the sales around us and thought I should get some input so Im prepared for whenever it comes time to appraise.

    My motto is Be Prepared (eagle scout)

    January 8, 2010 at 5:25 PM #500928
    LAAFTERHOURS
    Participant

    3% is roughly 25K and 130 a month. Appraisal is what 300-400? I can live with the PMI for a while – just was analyzing all the sales around us and thought I should get some input so Im prepared for whenever it comes time to appraise.

    My motto is Be Prepared (eagle scout)

    January 8, 2010 at 5:25 PM #501022
    LAAFTERHOURS
    Participant

    3% is roughly 25K and 130 a month. Appraisal is what 300-400? I can live with the PMI for a while – just was analyzing all the sales around us and thought I should get some input so Im prepared for whenever it comes time to appraise.

    My motto is Be Prepared (eagle scout)

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