Posted on: 11th Oct, 2010 12:13 pm
I tried to re-finance but my appraisal came in more than I owe, but not enough to avoid PMI. Is there anyway to get around this? My current mortgage is 5.625% for 30yrs conventiaonal. We put 20% down. Purchase was $514K and mortgage was $410K. Appraisal came in at $440K.
We do not have the additional cash to put down so that the LTV is 80%.
Any help on what we can do would be great. OR are we screwed.
We do not have the additional cash to put down so that the LTV is 80%.
Any help on what we can do would be great. OR are we screwed.
you may be able to qualify for the du refi plus program if you current loan is recognized by fannie mae. this program will allow you to refinance without pmi. you can probably expect to get a rate (with that program) that is about 1% less than what you have now.