Posted on: 11th Oct, 2010 12:08 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.
If your loan is currently recognized by Fannie Mae, you may qualify for the DU Refi Plus program which does not have PMI even if you are over 80% LTV
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[External link deactivated as per forum rules. Thanks.]