article thumbnail

HUD and FHA announce new appraisal bias protections

Housing Wire

Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) announced a new policy on Wednesday that will enable mortgage borrowers to “request a re-assessment of the appraised value of their property if they believe that the appraisal was inaccurate or biased,” according to an announcement from HUD.

article thumbnail

Appraisals 101: What to Expect From the Home Appraisal Process

Raleigh Realty

Appraisals 101: What to Expect From the Home Appraisal Process Wondering what to expect from your home appraisal? Now it's time for the home appraisal. Typically it is one of the last steps in the home-buying process. How Long Does an Appraisal Take? The appraisal process doesn't take long.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Agents fight misconceptions to win deals for military veteran clients

Housing Wire

A lot of the misconceptions about working with VA loans center on the VA appraisal process – which differs from conventional mortgage appraisals – as well as the time it will take for a transaction to close. VA loans are secured by the VA, and statutorily must be appraised by the VA and not just any appraiser. “I

Clients 377
article thumbnail

Consider These Factors When Choosing a Real Estate Appraiser

East Coast Appraisal

The appraisal process is critical to real estate transactions. Property appraisers use several forms of insurance coverage to protect their business. However, you only need to confirm a few forms of insurance coverage, depending on your role in the property transaction.

article thumbnail

How Today’s Market Impacts the Appraisals and Inspections Landscape

Genworth MI Blog

Foster: With COVID-19, the government-sponsored enterprises (GSEs) enacted temporary allowances for flexibilities in appraisals and inspections. In some cases, this meant that interior inspections and appraisals relied on pictures and details from the homeowner or realtors involved in the sale rather than direct viewing.

article thumbnail

5 Things You Didn’t Know a VA Loan Could Do for You

Realtor

“Most of the buyers I work with don’t have extra resources available, so the fact that they can purchase a home with zero down makes the transaction feasible,” says Benny Dinsmore , a Realtor® with Coldwell Banker in Frisco, TX. No mortgage insurance. FHA loans come with their own forms of mortgage insurance. Title insurance.

Insurance 146
article thumbnail

5 Things You Didn’t Know a VA Loan Could Do for You

Realtor

“Most of the buyers I work with don’t have extra resources available, so the fact that they can purchase a home with zero down makes the transaction feasible,” says Benny Dinsmore , a Realtor® with Coldwell Banker in Frisco, TX. No mortgage insurance. FHA loans come with their own forms of mortgage insurance. Title insurance.