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Pre-Appraisal Checklist for Homeowners

D Fritz Appraisals

Copies of any previous appraisals – this can help the appraiser see how the value has changed over the years. HOA documents – if you live in an HOA neighbourhood, the appraiser will need to see the costs, regular maintenance schedule, history of fee increases, etc.

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Home Appraisals – What Do They Look For?

D Fritz Appraisals

Financial institutes or mortgage lenders will require an appraisal to ensure the home is worth the amount of money being requested in the loan or mortgage. Home appraisals are not just for when someone is buying or selling a home for themselves however, they are also important for: New construction loans. Estate settlements.

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The Complete Guide to Buying a Home As a Government Employee

Raleigh Realty

Build Equity Every time you make a mortgage payment, you build equity in your home. Think of equity as the amount of money your home is worth after what you owe is deducted. When your home value goes up and you start paying off the loan's principal balance, that builds equity. You'll need to do some renovations.

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10 Ways to Financially Benefit From Your Home

PennyMac

Equity is the difference between the market value of your home and the amount you owe on your mortgage. Once you've accumulated enough home equity, you can tap into it for various needs like home renovations, debt consolidation or other expenses. Want to leverage your home equity?

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Buying a Vacation Home: 4 Critical Factors & Expert Advice

PennyMac

That is, until your home renovation projects start to go down the toilet (or worse, the toilet starts falling through the floor). Buying a vacation home? The rise of home renovation television shows has made many homeowners eager to transform rough diamonds into neighborhood jewels.

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Important Mortgage Acronyms

Assurance Financial

HELOC (Home Equity Line of Credit). Home equity is the difference between the amount a person owes on their mortgage and the value of their home. If a person has positive equity and needs cash for a renovation project or other reason, they can open a home equity line of credit or HELOC and borrow against their equity.