Much like every other Texan, my property tax appraisal this year was insane. However, I now have about 75% equity in my home according to that appraisal. The market value of the home is much higher and would easily appraise for well over that amount, but that is obviously an additional expense that would be great to avoid if possible.
So with that being said, would a lender accept a property tax appraisal in lieu of a traditional home appraisal for the purpose of dropping PMI (assuming 100% on time payments for a number of years, no refi's, etc)?
So with that being said, would a lender accept a property tax appraisal in lieu of a traditional home appraisal for the purpose of dropping PMI (assuming 100% on time payments for a number of years, no refi's, etc)?