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Our home appraisal came back much higher than we anticipated.

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Writer Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jun-26-07 11:47 AM
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Our home appraisal came back much higher than we anticipated.
It looks like we now will owe about 85% of the total value of the home. We originally were aiming for an 80/10/10 piggyback mortgage, but I wonder - can we avoid a second mortgage altogether?

Anyone have much knowledge on standard refinancing?
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Wcross Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jun-26-07 12:01 PM
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1. With 15% equity you ought to be able to. n/t
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AllegroRondo Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jun-26-07 12:23 PM
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2. I believe you need 80%
but that may vary with different lenders.

Thats great, though. The less you owe as a total % of your home's value, the better rate you will get on the mortgage.
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