Honestly, even if you hit that 22%, some lenders still drag their feet. Had a friend who jumped through hoops with appraisals and upgrades, only to find out the lender had their own internal timeline. Might wanna double-check before spending on an appraisal...
Yikes, sounds familiar. I'm currently stuck in PMI purgatory myself and was thinking about going the appraisal route. But after hearing stories like your friend's, I'm starting to think lenders secretly enjoy watching us jump through hoops. 😂 Honestly, might be safer to just wait until the automatic cancellation kicks in at 22%, even if it means biting the bullet a bit longer. At least then there's no surprises or extra fees...
"Honestly, might be safer to just wait until the automatic cancellation kicks in at 22%, even if it means biting the bullet a bit longer."
I get where you're coming from, but isn't waiting for automatic cancellation potentially costing you more in the long run? I mean, yeah, appraisals can be a hassle and there's always that risk of it not coming back as expected (heard plenty of horror stories myself), but if your home's value has genuinely increased, wouldn't it make sense to at least explore the appraisal route? I'm pretty cautious myself—first-time homeowner here, so trust me, I get the hesitation—but paying PMI longer than necessary feels like throwing money away. Maybe it's worth crunching some numbers or chatting with someone who's successfully gone through appraisal recently...just to weigh out the risks versus potential savings.
"paying PMI longer than necessary feels like throwing money away."
Yeah, I totally get that feeling. A client of mine was in a similar boat last year—super hesitant about the appraisal route because of all the uncertainty. They finally decided to go for it after seeing neighbors sell for higher prices. Turned out fine, but honestly, it was nerve-wracking for them. Definitely worth crunching numbers first, just to ease your mind a bit...
Yeah, PMI can feel like a drag, but sometimes rushing to ditch it isn't always the best move. Had a friend jump into an appraisal too soon—market dipped slightly, appraisal came in low, and they were stuck paying anyway. Timing matters, so definitely worth being cautious...
