If I pay the balance of the 20%, no appraisal is needed. But I lose the availability of my funds for other uses.
Maybe waiting is the right thing. Even though I'll put out some more money in PMI and an appraisal, I won't be tying up a huge chunk of money - and will still benefit with PMI removal.
I have no idea what loan rates I could get for $30K, but it may make my monthly payment HIGHER than what it is now.
Why does this have to be so confusing?!?!
THANK YOU everyone for your valued input!
