Fixed-Rate Mortgage Loan in Tuolmne CA
We shall cover some common questions that Tuolmne CA Mortgage borrowers often ask in the article:
Tuolmne CA mortgage borrowers looking for lowest mortgage rates in California will find the article helpful.
Appraiser didn’t look at the comparables properly
Even before an appraiser comes over to your house for the appraisal. He has a fair idea on where he would be looking for comparables because appraiser have access to information about your property and property in neighbourhood based on when the home was built etc.
However a physical verification may alter his decision for a particular comparable that he may have in mind based on any new development on the property that may not have been reported on his automated MLS system.
I have a pool and still i didn’t get enough value on my Home Appraisal
Very often people feel that a fancy pool on which the family spent 50k would automatically give them a higher value because of the money spent. Well a pool is a symbol of your life style. However when it comes to appraisal. It should ideally provide some higher value because of the amount spent but not necessarily that it should match equally to what the family has spent on making a pool.
Call Tuolmne CA mortgage expert below to get you the lowest mortgage rate on your refinance.
There was a distress sale in my neighbourhood. Will that affect my home value?
There is likelihood that a distress sale would impact the value of the home appraisal. To what extent is hard to say. The right person would be an appraiser. A wise step could be to ask a local appraiser to check on the comps on his computer and let you know the value. The appraiser would typically request for a visit to your home before he can assign a value to your house. However keep in mind. Your appraiser’s value will not be considered for Mortgage.
Since 2008. Every bank now has a team of appraisers that they vouch for and would consider only appraisal from them as the final figure for mortgage. So one banks appraisal report may not necessarily be accepted by other banks. Unless its an FHA loan which is a Govt backed loan. In that case, the same appraisal report can be considered by other lender or bank.
Call Tuolmne CA mortgage expert below to get you the lowest mortgage rate on your refinance.
For more information visit www.affordable-payment.com or call 323-705-3191 if you are a California Mortgage borrower.
CURRENT REFINANCE RATES MONTEREY CA
Product Rate Change
30 year fixed 3.63% 0.02
15 year fixed 2.99% 0.07
5/1 ARM 3.07% 0.14
Artical by Roger Shanker
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