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Home Appraisals – What Do They Look For?

D Fritz Appraisals

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. They are also used to assess the value of the home for home improvement loans and insurance evaluations. What is a Home Appraisal and Why is it Important?

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The Pros and Cons of Buying a House

PennyMac

Mortgage interest and property taxes may be tax deductible. Property taxes and HOA fees are the buyer’s responsibility. Buyer has full control over home improvements and upgrades. Homes frequently increase in value over the life of a mortgage. Rental insurance is inexpensive.

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Mastering How to Order a Home Appraisal Quickly

AmeriMac

The appraisal value is used by the lender to determine the loan-to-value ratio (LTV), which is the ratio of the loan amount to the appraised value of the home. The LTV ratio has a direct impact on the terms of the mortgage, including the interest rate and the need for private mortgage insurance (PMI).

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Does Refinancing Affect Your Taxes?

Assurance Financial

Refinancing could potentially lower your monthly payments , allow you to consolidate debt, speed up the payoff process for your mortgage, eliminate your private mortgage insurance (PMI) and put more cash in your pocket. If you have equity in your home, you may be able to leverage it through a refinance. Make a Capital Home Improvement.

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Does Adding an In-Law Suite Pay Off?

Empire Appraisal Group

If you’re building an ADU primarily for the extra income, recognize that any rent you charge could be at least partially offset by increased costs, such as higher property taxes , larger homeowners insurance premiums and payments on loans used to construct the unit, among other expenses. All rights reserved.

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What Is a USDA Loan and How Do I Apply?

Assurance Financial

The USDA allows people to get direct loans with 100% financing, meaning they don’t have to make a down payment. People who get a guaranteed loan from the USDA can get 100% financing, meaning no down payment is needed. People can use the loans to buy, build or rehab a qualifying home. Home Improvement Loans and Grants.

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Buying a Vacation Home: 4 Critical Factors & Expert Advice

PennyMac

Couple this with the improved job market and an upswing in home values, and you have a tidal wave of homeowners willing to invest in fixer-upper dwellings. In 2018, homeowners reported an average of $7,560 or more on major home improvements , up 17% over the previous year.