Totally agree about curb appeal—it's easy to overlook, but it makes a difference. We spruced up our front yard last year (nothing fancy, just trimmed bushes, fresh mulch, and a new mailbox), and the appraiser actually mentioned it positively in the report. As for challenging appraisals...we tried once, submitted comps we thought were solid, but the appraiser wouldn't budge. Might depend on the individual or how far off you are from the mark. Still worth trying if you're close enough, though.
"Still worth trying if you're close enough, though."
Yeah, maybe—but honestly, is challenging an appraisal really worth the hassle? I mean, I get the appeal of saving some cash by ditching mortgage insurance early, but from what I've seen, appraisers rarely budge once they've set their numbers. Has anyone actually had success getting an appraisal adjusted significantly? Curious if it's common or just a rare lucky break...
Honestly, I've seen it go both ways. Here's my two cents:
- Appraisers aren't exactly famous for changing their minds—true enough—but they're human too. If you can politely point out a couple legit comps they might've overlooked, there's a chance they'll reconsider. Not a huge chance, but hey, stranger things have happened.
- A buddy of mine actually pulled it off last year. He challenged his appraisal with solid comps and ended up getting just enough bump to ditch PMI. Saved him a decent chunk of change each month...and he wouldn't shut up about it for weeks afterward.
- But yeah, it can be a hassle. If you're borderline, maybe it's worth the gamble. Worst-case scenario, you're out some time and effort (and maybe a few gray hairs). Best-case scenario, you've got extra cash each month for pizza and beer—priorities, right?
Bottom line: it's not common, but it's not unicorn-level rare either. If you're close enough to the magic number, I'd say give it a shot.
I've heard similar stories, but honestly, I think it depends a lot on your market and the appraiser you get. A few years back, I tried challenging an appraisal myself. Thought I had rock-solid comps and everything lined up perfectly, but the appraiser basically shrugged and stuck to their original number. Didn't budge an inch. Felt like a total waste of time.
On the other hand, my neighbor did exactly what your buddy did—submitted some comps, made a polite case, and the appraiser actually adjusted the value upward just enough to drop PMI. So yeah, it's definitely possible, but I wouldn't bank on it.
I guess my question is: does anyone know if lenders typically allow you to request a second appraisal if the first one doesn't go your way? Or is it pretty much one-and-done unless you refinance or wait another year or two? Curious if that's a viable option or just wishful thinking...
Most lenders won't typically allow you to just request a second appraisal if the first one doesn't come back the way you'd hoped. Usually, it's a one-and-done situation unless there's an obvious error or something unusual about the appraisal itself (like incorrect property details, missed comps, or factual inaccuracies). In those cases, you can sometimes submit a formal reconsideration request with supporting evidence. But even then, you're still dealing with the same appraiser who did the original report—and as you've experienced yourself, they don't always budge.
One alternative route I've seen people take successfully is refinancing with another lender entirely. When you refinance, you're essentially starting fresh with a new appraisal ordered by the new lender. Of course, refinancing comes with its own costs and considerations—closing costs, interest rates, credit impacts—so you'd want to carefully weigh whether that makes sense financially. If your main goal is just to drop PMI and your current rate is already competitive, refinancing might not be worth it unless the savings from removing PMI clearly outweigh the costs involved.
Another thing to keep in mind: some lenders have specific guidelines about how soon you can request another appraisal or reconsideration after an unsuccessful attempt. Often they'll require waiting periods (6 months to a year), or they'll need clear evidence of significant market changes or home improvements since the last appraisal.
Bottom line—it's not impossible to get another appraisal done or challenge an existing one successfully, but it's definitely not guaranteed either. I'd recommend checking directly with your lender about their specific policy on reconsiderations or second appraisals before putting too much time and effort into it.
