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Originally Posted by shane_c
We'll be putting about 6% down. The city appraisal is very low compared to what houses seem to be selling for. Even if we turned around though and sold the day after we took possession we have no doubt it would sell for more that we're paying since the landlord (currently renting the home) is giving us a deal compared to others in the neighbourhood.
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I'm a financial planner and I wouldn't worry about this either. As for the city appraisal being low, don't fret. That not really the actual value of the house anyway. Welcome to home ownership, bud.
BTW, do not under any circumstances (well, generally not) buy mortgage insurance. There is a far better option.