ProSource Real Estate

What is a Broker Price Option (BPO) and what is it used for?
A Broker Price Opinion, or BPO, is a professional estimate of a property’s value performed by a licensed real estate broker or agent. It’s similar to an appraisal, but typically faster and more cost-effective.

🔎 Common situations where a BPO is helpful:
✔ Remove PMI
✔ Pricing guidance before selling
✔ Understanding equity before refinancing
✔ Evaluating whether renovations increased home value
✔ Planning for investment or rental strategies

Why homeowners request a BPO
Many homeowners simply want to know how much equity they’ve built. A BPO can help you get a clearer picture of your home's value without immediately paying for a full appraisal.

💡 One powerful use: Removing PMI
If you purchased your home with less than 20% down, you may be paying Private Mortgage Insurance (PMI) each month.
As your home value increases and your loan balance decreases, you may reach 20% equity sooner than expected.
A BPO can help you:
• Estimate your current market value
• See if you’ve reached the equity needed to remove PMI
• Provide supporting documentation when discussing removal with your lender
For many homeowners, removing PMI can mean saving hundreds of dollars every month.

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