You may hear a lender tell you that you need a drive-by appraisal. What does that mean? Is it different from a regular appraisal?Get Matched with a Lender, Click Here.This term is often used for refinances. Most purchase loans require the full appraisal. The drive-by is an exterior look at Read more
What is the Difference Between a Home Appraisal and Inspection?
When you buy a home, you’ll be faced with many processes, including the home appraisal and inspection. While they sound similar, they are two very different processes. All lenders require an appraiser to value the property. Lenders do not, however, require an inspector to go through the property. Read more
Does Refinancing Affect your Home’s Assessed Value?
Owning a home means you have to pay certain things like a mortgage, real estate taxes, and homeowner’s insurance. It is a part of the responsibility of owning a home. Not to mention the maintenance and upkeep fees you continually have to pay to keep your home in good shape. Generally, your fees stay Read more
Planning to Refinance? You Could Be Eligible to Waive Off Your Appraisal
One of the most talked about developments in the real estate industry right now is Fannie Mae’s innovative decision to help you waive off appraisals in your refi process. Appraisal is one of the major phases involved in getting a home loan. It takes time, as you may have experienced when you first Read more
The Importance of a Home Appraisal for a Refinance
The one thing many people dread about refinancing is the home appraisal. Why is it necessary when the bank originally loaned you money to purchase the home? The appraisal is actually one of the most important factors for loan approval according to the lender. Without adequate value in your home, the Read more
