PMI Rejected
Hello,
We are in the process of closing, have near 800 credit scores, received approval for our mortgage, and just now found out that we were rejected for PMI (we were told that the company did not like our appraisal, which came in at accepted offer price, for some reason). Our mortgage broker is now looking for another company that will approve us, but my question is whether anyone has been rejected by one PMI company and then approved by another? We are already putting down 15% so we would need an additional 5%. Is our best bet to dig around and see if we can get a gift for the additional 5% or is it likely that we can get approved by another PMI company?
