A home’s fair market value is the estimated price the home would sell. It’s the price that both the buyer and seller would agree upon in a normal market. It uses all impartial methods when determining the value – in other words, the seller or buyer’s input isn’t used when determining the FMV.Get Read more
What Happens After You’re Preapproved?
Before you shop for a home, it’s a great idea to get pre-approved. This lets sellers and realtors know that you are serious about buying a home. It also lets them know that you can get the financing you need to buy it. Without this letter, some sellers may not entertain your bid. But once you have Read more
When is the Appraisal Ordered in the Loan Process?
An appraisal is necessary to ensure there is adequate collateral in a home. Your lender will require the appraisal prior to clearing your loan to close. At what point does the lender order the appraisal, though?Looking for Current Mortgage Interest Rates? Click Here.Keep reading to find 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
How to Make Your Home Appraisal-Ready for Refinance
Notwithstanding all the myriad reasons to refinance, there’s an important aspect to it that every homeowner should be concerned of: the appraisal. Often considered as the most crucial aspect of refinancing, an appraisal serves as a basis for lenders to let you borrow the amount you want or not. So Read more
