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I bought house few years back - need to get rid of PMI.

Details: I am about 89% into the loan. The payment to get to 78% isn't feasible at this time. They allow appraisal to get PMI dropped, however it has to be valued at 20% more than the original loan value.

The county I live in recently sent us appraisal papers, and they listed our house literally $1K less than the 20% above loan value that is needed. Retail sites like Zillow, Redfin, etc..., continuously list well over 40% Loan to Value.

Questions:

What are some tips and tricks, if there are even any? I've searched and most sites/blogs say that going ultra-cleaning and whatever doesn't really help as they're about functionality, longevity, and amenities, not to mention location and local values instead of how well the floors shine.

I guess other than finishing up any projects I have, like replacing trim, at least one of the toilets (it works, just sucks at working right and is a child's size), doors/paint, and that sort of thing, is there anything else?

Cheers.

I bought house few years back - need to get rid of PMI. Details: I am about 89% into the loan. The payment to get to 78% isn't feasible at this time. They allow appraisal to get PMI dropped, however it has to be valued at 20% more than the original loan value. The county I live in recently sent us appraisal papers, and they listed our house literally $1K less than the 20% above loan value that is needed. Retail sites like Zillow, Redfin, etc..., continuously list well over 40% Loan to Value. Questions: What are some tips and tricks, if there are even any? I've searched and most sites/blogs say that going ultra-cleaning and whatever doesn't really help as they're about functionality, longevity, and amenities, not to mention location and local values instead of how well the floors shine. I guess other than finishing up any projects I have, like replacing trim, at least one of the toilets (it works, just sucks at working right and is a child's size), doors/paint, and that sort of thing, is there anything else? Cheers.

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[–] • 1 pt

Also the appraiser works for you. They are required to give a fair value based on similar real estate in the area, but they have a small amount of flexibility. It is appropriate for you to mention the reason for the appraisal and thereby indicate which direction you want the appraisal to go. And if you don't like the results hire a different appraiser.