As you know, the market here and Florida has escalated quite a bit in the past few years. This is great for everyone, except maybe buyers.
Rising interest rates and prices have been causing buyers to really scramble over listings, these days. So, today I wanted to give you a few tips on how to save money. If you’re a homeowner who purchased a property in the last five years or so, chances are your home’s value has increased.
You may be eligible to have your PMI removed.Also, if you bought a home and took out private mortgage insurance (PMI) due to a smaller down payment, you may be able to now have your PMI removed. This is no guarantee, but you could find out whether this applies to you by contacting a lender to order an appraisal. If the appraisal value comes back at the threshold level of the lender with whom you have your loan, you could potentially remove your PMI.
You would need to pay for this appraisal yourself, but that money could be easily recouped if you are, indeed, able to remove your PMI. I definitely recommend checking out this option.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.