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Experience:
Broker Associate for My Real Estate Pros
January 2009—present
Broker Associate for Keller Williams Realty
January 2008—December 2008
Specialties:
Distressed Sales and Purchases
Luxury Home Sales and Purchases ... show more
Luxury Home Sales and Purchases ... show more
Seth T J Miller answered:
Hi Jenny,
If the lender only ordered a 'drive-by' appraisal they probably are not too worried about it not appraising (at least that's the only time I see drive-by appraisals requested). The loan to value ratio needs to be 80% or less to avoid paying PMI, but otherwise it depends on what type of loan you're getting. This is a question for your lender.
Make it a great day,
Seth T. J. Miller
Broker- My Real Estate Pro West Covina
(626)967-8686
DRE#01840251
PS- you can follow my on twitter @BrokerSeth
If the lender only ordered a 'drive-by' appraisal they probably are not too worried about it not appraising (at least that's the only time I see drive-by appraisals requested). The loan to value ratio needs to be 80% or less to avoid paying PMI, but otherwise it depends on what type of loan you're getting. This is a question for your lender.
Make it a great day,
Seth T. J. Miller
Broker- My Real Estate Pro West Covina
(626)967-8686
DRE#01840251
PS- you can follow my on twitter @BrokerSeth
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