Are you in the last stages of your home loan application? Now that you’ve gone through the tedious process of rate locking, appraisals, and inspections, you may be wondering what comes next, which brings us to the underwriting process. It may sound frightening at first, but it becomes much less intimidating once you understand what […]
Last November, the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency, and the Board of Governors of the Federal Reserve released a proposal that would increase the appraisal requirement for home sales from $250,000 to $400,000, meaning that certain home purchases of $400,000 and less would no longer require an appraisal […]
What are VA Loans? A VA Loan is a segment of the GI Bill was that signed into law by President Franklin D. Roosevelt to provide veterans with a federally guaranteed home loan with no down payment. It’s one of the ways we thank our veterans for their service. The VA guarantees a maximum of […]
If you want to refinance your home and still take advantage of currently low interest rates, you’ll they have to get through a home appraisal, before landing a new 30-year fixed-rate mortgage. What do you do when the appraisal came back less than what you’re expecting, and too low to support the new loan? Low […]
You’ve completed your loan application and submitted it to your mortgage broker. Now you’re anxiously awaiting the home appraisal. What is an appraisal anyway and what does the appraiser mean to you and that mountain of paperwork you just completed?