If the appraisal value comes in lower than what you need by a small amount, can u ask a second appraisal done?

A second appraisal could be requested; however, lenders will not often overlook the original appraisal unless there are material errors within the appraisal report. If you believe home values will increase over the coming months, then you might consider waiting and reapply. However, if you do not see homes selling fast enough in your local market then you might consider a different loan type and live with mortgage insurance for the short term so that you can lock in long term with these historic low home loan rates. Happy Memorial Day Weekend!

you can ask for an field review, or have the original appraiser re look at comps. Maybe another home was closed, or another home is now on the market or a new pending sale. If the comps are not there, then there is nothing to be done. Are you trying to avoid the mortgage insurance?