Profile picture for satex2011

Appraisal question

I'm having a new house built right now.  Just got the appraisal amount back and it came in about $15,000 more than what i'm paying for the house.  Does this work to my advantage any in regards to LTV, PMI, etc?
  • August 23 2011 - San Antonio
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Answers (3)

NO,but you are buying at a good price....CONGRATS!!!!
  • October 02 2011
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No, but it is a good feeling knowing that you are purchasing it at a good price, doesn't it?
  • August 23 2011
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Profile picture for wetdawgs
No, unfortunately.   The PMI, LTV etc are calculated off the lower of the purchase price or appraisal.

  • August 23 2011
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