Appraisal Today

APRIL 19, 2024

Importantly, Chance points out that claims of appraiser bias contradict what appraisers actually do. Appraisal Institute Counters Flawed Appraiser Bias Narrative Excerpts: In reality, appraisers have a great story to tell, but we have a long way to go to refocus the terribly flawed “appraiser bias” narrative onto facts and science.

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Appraisal Today

JANUARY 19, 2024

NOTE: Please scroll down to read the other topics in this long blog post on non-lender appraisals, and types of bias, Scams on black homes, unusual homes, mortgage origination stats, etc. That’s what makes midcentury architecture so appealing: It brings the outside in.” Opens in You Tube. Glass-Walled, Midcentury Manse in Houston $3.1M

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Birmingham Appraisal

APRIL 25, 2023

If you’re looking to purchase a home and you’re financing it with an FHA loan, the property will need to meet certain requirements to be approved for the loan. In this blog post, we’ll discuss the FHA requirements for handrails and porch railings for an FHA appraisal. Handrails: Are They Needed or Not?

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Appraisal Today

NOVEMBER 24, 2023

NOTE: Please scroll down to read the other topics in this long blog post on , , VA changes, State Appraisal Board problems, gratitude for appraisers, unusual homes, mortgage origination stats, etc. == San Francisco Bay’s Red Rock Island is for Sale for $25M Excerpts: Red Rock Island is the only privately owned island in San Francisco Bay.

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Movoto

JANUARY 29, 2024

Homeownership is important to many Americans for various reasons , and most begin their journey with the same question: “What credit score is needed to buy a home?” Throughout the following, we’ll examine the minimum credit score to buy a house for the most popular kinds of loans. What credit score is needed to buy a house?

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Appraisal Today

DECEMBER 8, 2023

The conventional wisdom is that the most similar comparable be given the most weight. We can fairly easily observe the comparable which is the most physically similar, but what about the one that is the most transactionally similar? OK to average adjusted comps on appraisal? But that begs a question… similar how? The four-bedroom, 4.5-bath

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Eppraisal

JULY 7, 2023

In the previous two blog posts, we discussed fixed-rate mortgages and adjustable-rate mortgages, which are widely used in the United States. In this final installment of our three-part series, we will explore government-insured mortgage loans. What are Government-Insured Mortgage Loans?

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Will Springer Realtor

NOVEMBER 21, 2023

The seller of the property receives a secured promissory note, a fancy term for a legal IOU, which details the reshaped loan (principal and interest). Legal title is transferred from lender to mortgage holder after the home is paid off and then shifted to the buyer after the wraparound loan is fully paid. Flexible Terms. Default Risk.

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Quicken Loans

NOVEMBER 18, 2021

A VA loan is a loan available to veterans and active-duty service members that’s offered through the U.S. National Guard or Army Reserve can also qualify for VA loans? National Guard or Army Reserve can also qualify for VA loans? VA Loan Requirements. Documents Needed For A VA Loan. Let’s find out how.

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Insurance Mortgage Buyers Inspection 54

Genworth MI Blog

MAY 28, 2020

Remember when loan officers avoided underwriting loans for manufactured housing for fear of low commissions, foreclosure risks, and the added complexities of underwriting those types of “unreliable” homes? For some, these myths still flood our thoughts when a potential borrower approaches us about a loan for a manufactured home.

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Quicken Loans

JUNE 9, 2021

For years, each time a client in New York State decided to refinance their home , they would pay a state mortgage recording tax on the entire new loan amount. It’s called a CEMA loan. It’s called a CEMA loan. What Is A CEMA Loan? CEMA loans are only available on conventional, jumbo and FHA refinances.

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Quicken Loans

JUNE 10, 2021

For example, construction of the Batcave was probably too expensive for Bruce Wayne to get a conforming loan – not that the multi-billionaire founder of Wayne Enterprises needs one, but we digress. What is a non-conforming loan, and how does it differ from a conforming mortgage? What Is A Non-Conforming Loan?

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Will Springer Realtor

AUGUST 22, 2023

I wrote that same message in one of my first blog posts in 2018. Take note: lenders tend to skew scores lower than what consumers see online. If you are feeling good about your financial position based on the information above, then take the next step and contact two or three loan consultants to get their take on your situation.

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Appraisal Today

SEPTEMBER 22, 2023

To read more, click here My comments: Now we know what NAR members think about it. What they were doing about inspectors had a wide range. I drove by the house and looked at what was nearby, etc. There is no way to know what the inside looks like or the foundation (many are brick). Not very positive. Very interesting.

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Quicken Loans

DECEMBER 5, 2021

What Is A Good Down Payment For A House? Most mortgage lenders would love if borrowers put down 20% for a home as it lowers their risk when funding the loan. Most mortgage lenders would love if borrowers put down 20% for a home as it lowers their risk when funding the loan. Let’s explore how to save for a down payment.

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Appraisal Today

OCTOBER 28, 2022

Is the VA looking at these types of valuations and what are some of the considerations? Is the VA looking at these types of valuations and what are some of the considerations? There’s been a lot of buzz about measuring homes to ANSI standards in the appraisal industry–what can you tell us about the VA’s stance on ANSI?

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AmeriMac

NOVEMBER 15, 2023

What is an ACE + PDR Freddie Mac Eligible Loan? An ACE + PDR Freddie Mac Eligible Loan is a type of loan that is eligible for Freddie Mac’s ACE + PDR program. Lenders input loan and property information into the Loan Product Advisor (LPA), which analyzes the data and offers an appraisal waiver if eligible.

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Quicken Loans

MAY 12, 2021

But what happens if you need to close sooner? What Is An Escrow Holdback? What Is An Escrow Holdback Agreement? An escrow holdback agreement is simply a written statement that explains what repairs are subject to the holdback, who will be responsible for the repairs and when the repairs must be completed. Sound familiar?

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Sellers Buyers Appraisal Construction 52

Lamacchia Realty

OCTOBER 31, 2022

What is a 2-1 Buydown? What is a buydown? Buydowns work with conventional loans, FHA, and VA loans only, not jumbo loans. The lender ultimately takes dollars from the escrow account each month during the term of a buydown to cover the difference between the lower payments and what is due.

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Appraisal Today

OCTOBER 20, 2023

Fannie Mae Filed a Complaint Against Me October 18, 2023 Excerpts: In June of 2021, I completed an appraisal for a conventional purchase. The demand letter cited an accounting error during the origination of the loan (not an appraisal issue) and the appraisal as the reason for the buy back. This approximately 900sf, 1.5

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Quicken Loans

SEPTEMBER 21, 2021

You can generally get a lower rate than you could with comparable fixed-rate loans. Additionally, if you plan on moving before the end of the initial fixed-rate period of the loan, you may never deal with an adjustment. What Is An FHA Adjustable-Rate Mortgage? What Is A 5-Year FHA Arm Loan?

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Quicken Loans

JUNE 17, 2021

What Is Delayed Financing? What if you invested that money? What if you had major renovations for your new home in mind? In fact, it’s probably going to hurt you when it’s time to get a loan. In the future, when you need a loan, it’ll be available to you, and at the lowest possible rates. Low Interest Rates.

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Appraisal Today

NOVEMBER 3, 2023

To read more, click here My comments: Be sure to read this blog post. NOTE: Please scroll down to read the other topics in this long blog post on Investigation of desktop appraisals, economic analysis, Bias, hybrid appraisals, unusual homes, mortgage origination stats, etc. USPAP 2024 is effective January 1, 2024.

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Will Springer Realtor

NOVEMBER 22, 2022

Gift money is typically allowed for conventional , Federal Housing Administration , Veterans Administration and U.S. Department of Agriculture loans. If that’s the case, buyers should speak with a financial adviser to understand what they are agreeing to and whether it makes financial sense.). Washington does not tax gift money.)

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Quicken Loans

DECEMBER 3, 2021

A VA loan is one of the most widely used benefits available to veterans and military service members. VA Loan FAQs. Below, we’ve assembled some of the most frequently asked VA loan questions to help you understand your benefits. What are the advantages of a VA loan? What are the advantages of a VA loan?

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On Q Financial

MAY 19, 2021

If you’ve recently considered an FHA or VA loan, you may want to revisit our requirements. Don’t let previous home loan denials hold you back. Home Loan Options Refinance Information. What are FHA and VA Loans? Here’s a breakdown of the two: FHA Loans. New Home Loan Refinance Info.

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Quicken Loans

JUNE 21, 2021

Another benefit of military service is home loan assistance in the form of the VA loan. However, many veterans have not used or are unaware of the VA loan benefit provided to them. Let’s take a look at FHA vs. VA loans to help you make an informed decision on which mortgage is best for you. FHA Vs. VA Loan Requirements.

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Appraisal Today

JULY 1, 2022

To read more of this long blog post with many topics, click Read More Below!! NOTE: Please scroll down to read the other topics in this long blog post on real estate market decline in listing prices, land issues, unusual homes, mortgage origination stats, etc. =. Actually, the property was not “in” the City at all. The home 6467 sq.

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Listing Spark

AUGUST 17, 2023

FHA loans are becoming an increasingly popular option for buyers all across the home market. The FHA has insured over nine million mortgages since 2009 , and as home prices have climbed higher than ever in the past three years, many prospective homeowners are turning to FHA loans due to the increased assistance and down payment requirements.

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Appraisal Today

JUNE 23, 2023

NOTE: Please scroll down to read the other topics in this long blog post on AVMs and AI, good appraisal book, Real estate market, Fannie, non-lender appraisals, unusual homes, mortgage origination stats, etc. However, it’s a good idea to know where the risks lie—and how to avoid them. Well written, short, and worth reading.

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Appraisal Today

APRIL 14, 2023

To read more of this long blog post with many topics, click Read More Below!! NOTE: Please scroll down to read the other topics in this long blog post on liability, appraisal errors, non-lender appraisals, Fannie non-appraisal options, unusual homes, mortgage origination stats, etc. In my MLS “contractor special” is often used.

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Quicken Loans

JANUARY 11, 2022

What is a VA loan, how does it work, and are you eligible to obtain one? That’s because a VA loan is a type of home mortgage loan that offers preferred terms to borrowers who have served and currently serve our nation. A VA loan is available to veterans and active duty service members, and offered through the U.S.

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Appraisal Today

AUGUST 19, 2022

What to Do When Your Appraisal Is Under Review. To read more of this long blog post with many topics, click Read More Below!! Excerpt: Topics: Remember that reviewers are on your side. Look out for these common points of contention. Check your report for common mistakes. To read more, click here. Review appraiser liability.

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Appraisal Today

AUGUST 26, 2022

I understand that Fannie Mae requires the sales comparison approach, but what if there aren’t enough good comps? It just means Fannie Mae won’t buy that loan. To read more of this long blog post with many topics, click Read More Below!! Can I use the cost approach as the primary method of valuation?”.

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Appraisal Today

SEPTEMBER 23, 2022

This is only part of what I say because I’m a man who needs a few paragraphs. Now let’s keep watching to see what happens to size. At the end of the day, (Ryan) Lundquist says his goal is to report what is happening in the market right now—accurately and without sensationalism. One box just isn’t enough. “At To be determined.

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Will Springer Realtor

MAY 23, 2023

An assumable mortgage allows homeowners to sell their property to a buyer who agrees to take legal responsibility for the sellers’ government-backed loan and pay it off according to the terms, including that deliciously low interest rate that can deliver long-term savings. Why is this option rarely discussed?

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Will Springer Realtor

FEBRUARY 22, 2022

It allows you to understand what to expect through the process and, most importantly, how much home you can afford. Some people work with a mortgage broker who can have access to several lenders and a wider selection of loan products and terms.). What information does a lender request to begin the mortgage application process?

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