My Home Appraisal Came In Low. My property appraised too low! We were planning on putting down the 20% to avoid pmi.
A low home appraisal of $220,000 will cause the bank to approve only 80 percent of that amount: Look at the full appraisal and confirm that all the information is correct. First, look for errors in the home appraisal.
A low home appraisal can hurt your chances of closing on a mortgage or getting to refinance one, but it doesn't have to.
A home appraisal coming in low can sound like a death knell for a home purchase. A low home appraisal of $220,000 will cause the bank to approve only 80 percent of that amount: We really don't have or want to put more down. If the appraisal comes in low, you may have to come up with the difference.