The wife and I decided to refinance our 30yr loan to a 15yr loan. We bought the house new 1.5 years ago and paid 236,000.00. The mortagage company we refinanced through sent out an appraiser and the new value was only 240,000.00. We are on a private 3.6 acre lot and there have been no changes to our area since the move. It seems the value of the home would have increased more than $4000.00. We are currently paying PMI, is this a way for the mortgage company to keep us from removing the PMI sooner? Any ideas why we are not seeing a bigger increase? The home is located in Goochland, VA.