I currently have an FHA loan through Wells Fargo that I closed on in January 2015. Home values have improved significantly in my area and I think I might be close to meeting the 78% equity requirement for the bank to remove the PMI.
My question is: I'll have to pay for an appraisal that the bank requires. I don't want to have to pay for an appraisal and then have the bank tell me that I don't meet the requirement. Is there a way I can get a good estimate on my home appraisal value before I pay for the bank's appraiser? Should I just have an agent pull comps from the MLS for me? Thanks for any advice.
My question is: I'll have to pay for an appraisal that the bank requires. I don't want to have to pay for an appraisal and then have the bank tell me that I don't meet the requirement. Is there a way I can get a good estimate on my home appraisal value before I pay for the bank's appraiser? Should I just have an agent pull comps from the MLS for me? Thanks for any advice.