Can i remove PMI if appraisal is high
Im purchasing a home and put 10%. So the house I bought is 440k. I put in 44k. Mortgage is 396K. The bank did the appraisal at 480K. making the balance to be 396/480 = 82.5%. So if I just pay additional 12k to get it down to 80% after the first month, do I need to redo an appraisal?