D Fritz Appraisals

OCTOBER 11, 2022

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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Appraisal Inspection Property Taxes Easement 105

PennyMac

NOVEMBER 27, 2023

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. Consolidate Debt Your home equity can help you take charge of your debt.

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Assurance Financial

MARCH 18, 2021

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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Property Taxes Renovations Home Improvement Mortgage 85

AmeriMac

MAY 15, 2024

Start by collecting property records, including the deed, survey, and title insurance. Next, compile any records of recent home improvements or renovations. This information can showcase the added value to your property and help the appraiser understand the quality and condition of your home.

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Appraisal Market Value Mortgage Appraisal Appraisal Process 36

PennyMac

JANUARY 3, 2024

No monthly mortgage insurance premiums. Purchase a home and start building equity without the extra expense of monthly mortgage insurance. Does not apply to taxes, insurance or pre-paid interest. Use the funds for any purpose, such as paying off debt, funding education or making home improvements.

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Insurance Real Estate Agent Finance Renovations 36

PennyMac

JUNE 15, 2021

Not sure if you can turn your current house into your dream home or if you just need to start over with a new space? Making a decision on whether to renovate your current home or make the move to buy a new one can be emotionally and financially complicated. Don't forget to calculate those costs.

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AmeriMac

APRIL 15, 2024

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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Appraisal Appraisal Process Real Estate Renovations 36

Assurance Financial

OCTOBER 27, 2023

You can leverage home equity to access cash for major purchases, alternative debt repayment, retirement plans or home renovations. You can also use it to obtain funds via a second mortgage like a home equity line of credit , or HELOC. When you obtain a HELOC, you are securing it against your home equity value.

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Renovations Mortgage Appraisal Housing Market 36

PennyMac

APRIL 18, 2022

Buyer has full control over home improvements and upgrades. Homes frequently increase in value over the life of a mortgage. Rental insurance is inexpensive. May be required to allow landlord access to home for inspections. Home equity also increases your borrowing power. Process can be complex.

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Landlords Property Taxes HOA Insurance 36

AmeriMac

MARCH 29, 2024

One of the most common types of reverse mortgages is the Home Equity Conversion Mortgage (HECM), which is insured by the Federal Housing Administration (FHA). HECMs are government-backed loans designed to help seniors access the equity in their homes. Make sure the property is in good condition, addressing any necessary repairs.

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Mortgage Appraisal Appraisal Mortgage Appraisal Process 36

Assurance Financial

MARCH 1, 2021

Deciding how you get the money: You can select whether you want a HELOC or a home equity loan. If you want a lump sum, you may want to select a home equity loan. If you want to tackle a home renovation or another ongoing project and you don’t know exactly how much money you may need, you may want to choose a HELOC instead.

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Mortgage Renovations Home Improvement Finance 36

PennyMac

JANUARY 16, 2022

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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Investing Property Taxes Real Estate Renovations 36

PennyMac

SEPTEMBER 18, 2020

Plus, adding monitored safety and security devices can often help homeowners dramatically lower their home insurance premiums. As a final security and technology tip, don't post your vacation plans on social media: You don't want the world to know your home will be left unwatched.

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