Final Appraisal Came in $40,000 less! WORRIED!!
I am freaking out because when we started construction on our house, it appraised at $450,000. We budgeted just enough to have 20% equity in the house. Now we only have 15% equity and I have no more money to put down on the house. I'm worried that now that we have dropped below that 20% mark and have to do PMI, it may cause our loan to fall through in underwriting. We are waiting on final underwriting now and I'm soooooo stressed. Am I worried for no reason?