Quote:
Originally Posted by Chuck1674
No need to respond if u have nothing to ad
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Hi Chuck, you're fairly new around here. Folks will not only reply with nothing to add, but they can often be quite "snarky" about it. You take the bad with the good.
Anyway, PMI. If your loan is not paid down to 80% of the original value, then you will absolutely need an appraisal. The bank will not take your word for it. The system is geared to wring every last dollar possible out of your wallet. Here's a decent article.
Good luck.
Final answer - call the bank for exact details.
Can I Cancel PMI If My Home Value Increases, or Am I Stuck With It?