 | For many years, every home loan required an appraisal to support the value on a home. This is no longer the case! There are numerous benefits, including not needing to verify your home value for a refinance..... |
We’re getting appraisal waivers on nearly every loan we’re completing these days. This has the potential to help homeowners and homebuyers in the following ways:
- Get rid of mortgage insurance, even if you think you don’t have 20% equity (we might get the value you need without requiring an appraisal to support it)
- Save time on a home purchase escrow (appraisals are usually the biggest delay for escrows)
- Save money on your closing costs (appraisals are generally $450-$500…a waiver eliminates this cost)
- Stop property issues from halting your loan (with an appraisal waiver, you can be in the middle of a home improvement project and not have to worry)
- Reduce loan processing times (we’re completing home loan escrows in less than 20 days with waivers)
Contact us if you feel you could benefit from this appraisal waiver option. We’ll be happy to discuss if it will work for you!