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re: Need some info Building a home.
Posted on 9/23/16 at 8:13 pm to lsutigers0705
Posted on 9/23/16 at 8:13 pm to lsutigers0705
You can avoid PMI if you're right side up on the appraisal and it sounds like you will be. For instance, you build a house on that 15 acres and it appraises for 300k. If you only have 200k in the build then no PMI.
1
Posted on 9/23/16 at 10:29 pm to AUtigR24
One thing to beware of: if you're in a very rural area with few home sales and/or few houses valued at/near the $250/k you mentioned, you may run into problems with the appraisal not being as much as the house will cost to build.
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