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Desktop appraisal option to start in March

Housing Wire

Desktop appraisals will become an option for some agency-backed loans submitted after March 19. To be eligible for a desktop appraisal, according to Fannie Mae , the loan must be a purchase transaction, secured by a one-unit principal residence and have a loan-to-value ratio of no more than 90%.

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Opinion: More financing options for ADUs are needed

Housing Wire

For homeowners, ADUs can generate substantial rental income that assists homeowners in covering escalating property taxes and mortgage payments. Importantly, homeowners can also include 50% of their estimated rental income when applying for an FHA renovation loan to construct an ADU, which helps with DTI constraints.

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FHA drafts guidance to expand financing on homes with ADUs

Housing Wire

While FHA policy does permit the purchase, rehabilitation or refinance of properties with ADUs, current policy does not allow for the inclusion of rental income from an ADU in a potential borrower’s qualifying income, FHA explained. On the West Coast , Seattle saw a 250% ADU construction increase from 2019 to 2022.

Finance 365
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26 Reasons to Get an Appraisal

Realvals

In today’s dynamic market, there are many situations where you may need a real estate appraisal. An appraisal provides you with the clearest understanding of the value of your real estate. Whether you are buying, selling, or refinancing, an appraisal helps you make well-informed decisions in the process.

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How to Appeal Your Property Taxes in King County

Will Springer Realtor

The state requires that county assessors inspect every property at least every six years to maintain accurate information about the parcel and structures. Local governments are limited to a 1% annual increase in property tax revenue regardless of changes in property values – but there is a catch. overall increase.

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Home Appraisals – What Do They Look For?

D Fritz Appraisals

How Home Appraisers Decide on the Value of Your Property. There are many reasons you may need to know the value of your property and for this, you need a home appraisal. Home appraisals are a vital part of the home buying process as they have a big influence on the amount a lending institution will loan the buyer.

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Closing costs: Here’s how much money you really need to buy a house

Housing Wire

This includes courier fees, underwriting fees, appraisal costs, administrative fees, etc. Property Tax. Closing costs include property taxes, which are fees paid to the county treasurer’s office that fund schools, road construction, fire and police departments, as well as other local services.