[zach347]

Wow, some really good points made there. I very much feel like I have been talking to the wrong people.

I doubt the house will appraise for 587,500$ but it may be worth a 400$ gamble on an appraisal just to make sure. Heck if it appraised for that amount this would be more simple, I just dont see that happening.

As far as qualifying goes it seems to me like I should be good to go. I have Good debt/income ratio and credit score. In short qualifying has never been an issue for me.

Point taken on doing the refi now and pay the higher PMI rate until Im able to drop the PMI altogether (a few years down the road). This is an option I have considered but I’m shopping around a little to see if I can finagle a lower interest rate and dropping the PMI in one shot.

I am intrigued by the statement “If your house will appraise for $522K+ you may have
a better option IF you can qualify based on guidelines”. This is the first time I’ve had this number tossed out there so I’m curious as to what those guidelines are and what this option is. I can probably come in at or above that 522K mark you mentioned.

Im not willing to bring in cash to bring the loan amount down. I’d rather put my money to work elsewhere.

Thanks for your enlightened response.
zach

[zach347]

You are going to spend three times what you think. You will have to rip absolutely everything out including most if not all of the drywall (especially since this will make it easier to re-route all of your wiring).
Cutting the slab to run new plumbing is going to be a really fun adventure especially if your plan takes you through an existing footing.
Moving walls? Better make sure thats even possible first, are they load bearing? If so you’ll have to build temporaries and pour new footings.
Dealing with the city with all of this stuff, just shoot yourself now.
Adding on an entire additional master suite probably wouldn’t cost too much more than all of this, plus, your existing home will be operational.

[zach347]

You are going to spend three times what you think. You will have to rip absolutely everything out including most if not all of the drywall (especially since this will make it easier to re-route all of your wiring).
Cutting the slab to run new plumbing is going to be a really fun adventure especially if your plan takes you through an existing footing.
Moving walls? Better make sure thats even possible first, are they load bearing? If so you’ll have to build temporaries and pour new footings.
Dealing with the city with all of this stuff, just shoot yourself now.
Adding on an entire additional master suite probably wouldn’t cost too much more than all of this, plus, your existing home will be operational.

[zach347]

You are going to spend three times what you think. You will have to rip absolutely everything out including most if not all of the drywall (especially since this will make it easier to re-route all of your wiring).
Cutting the slab to run new plumbing is going to be a really fun adventure especially if your plan takes you through an existing footing.
Moving walls? Better make sure thats even possible first, are they load bearing? If so you’ll have to build temporaries and pour new footings.
Dealing with the city with all of this stuff, just shoot yourself now.
Adding on an entire additional master suite probably wouldn’t cost too much more than all of this, plus, your existing home will be operational.

[zach347]

You are going to spend three times what you think. You will have to rip absolutely everything out including most if not all of the drywall (especially since this will make it easier to re-route all of your wiring).
Cutting the slab to run new plumbing is going to be a really fun adventure especially if your plan takes you through an existing footing.
Moving walls? Better make sure thats even possible first, are they load bearing? If so you’ll have to build temporaries and pour new footings.
Dealing with the city with all of this stuff, just shoot yourself now.
Adding on an entire additional master suite probably wouldn’t cost too much more than all of this, plus, your existing home will be operational.

[zach347]

You are going to spend three times what you think. You will have to rip absolutely everything out including most if not all of the drywall (especially since this will make it easier to re-route all of your wiring).
Cutting the slab to run new plumbing is going to be a really fun adventure especially if your plan takes you through an existing footing.
Moving walls? Better make sure thats even possible first, are they load bearing? If so you’ll have to build temporaries and pour new footings.
Dealing with the city with all of this stuff, just shoot yourself now.
Adding on an entire additional master suite probably wouldn’t cost too much more than all of this, plus, your existing home will be operational.

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