Quote:
Originally Posted by Chuck1674
Yes i will call, just looking for experiences of others. Did they require appraisal? Does anyone have a decent appraiser they recommend. My post stated I am going to call but it is always good to do due diligence first. No need to respond if u have nothing to ad
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Mortgages are tightly controlled. You will find that everyone, every bank has the same policy.
Call the bank, probably better to set up an appointment and do a face to face. You are paying mortgage insurance because to put too little as a down payment. The banker is no longer your neighbor, they will they have to follow the rules. Appreciation? A safe bet they will charge you for an appraisal.
Thinking out of the box, perhaps, a refinance is an option. There is a gotcha there too.
You will pay closing costs AGAIN even using the same bank. Check stuff like liens against the property? As your lender they would be notified of any liens against the property BUT they can and will charge you anyway.