| Author | Message | ||
     Esscuseme Kurra Bewarse Username: Esscuseme Post Number: 1249 Registered: 03-2005 Posted From: 104.183.243.230 Rating: N/A |
Tingu bro, PMI removal LTV % depends on various factors. It is not flat 80 - 20% always. the factors include type of property (SF, TH, Condo, Multi Unit), type of loan FHA, Fannie Mae, Freddie Mac etc, how long have you been having this loan (for eg >5years or < 5years) 78% does not seem to be unreasonable. However, you should ask for manager and request on how they arrived at 78% instead of 80%. If they justify based on their reasoning, there is nothing much left for you but if you politely argue there is always a chance. btw, In some cases they don't need to do a full appraisal, they can just do online appraisal as well.HTH |