BPO vs Appraisal to cancel PMI

The house needs to be valued at a LTV of %75 which we should have given the market. The appraisal would cost $550 vs the Brokers Purchase Option which is ~$125.

Wondering if one is more reliable and true to market values. We're obviously inclined to go with the cheaper option but want to make sure it will not undervalue our home, which I've read can happen with some regularity in an appraisal.

Advise is appreciated.


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