re: Question about PMI

Find a bank that will do a construction loan on the appraised value. The appraiser will take your proposed budget, plans, & specs and appraise your lot as if the house was built. They will base your loan to value on the appraised amount, not on the construction cost + lot cost.
Also to someone else’s reply for a construction do you need to have 20% the answer is no. I know of some banks that will go 95% all the way to $850k.
If you are building in Texas I can help you out with some names. If it’s in another state just ask or research who has the best 1x close programs. Usually it’s the mid size banks.