I am doing a refinance on my home with a balance of $67,000, interest rate quoted at 4.875 percent. The appraisal came in low in my opinion at $119,000. My credit score came in at 819 according to the new lender, Charles Schwab Bank.

My question is this: the approximates that I was given initially was the above stated interest rate. Now, with this new lower appraisal, will this affect my interest rate? Should I be worried? If I am doing the math right, I think the LTV is 56.3 percent? Let me know if I need to be worried or what I can do. I feel that in my area, non transient, a 2,200 square foot home, four bedrooms, 2 1/2 bath on an acre should appraise for 10-15k more and that is what I told Schwab when they initially gave me the int rate of 4 7/8 percent. By the way, I am doing this to get out from an 8.5 percent rate. Thanks.