There are many reasons to obtain an appraisal. The most common reason is for a real estate or mortgage transaction, but we have compiled a list of other reasons you may need to order an appraisal.

To Settle an Estate
Taxing authorities such as the IRS often require appraisals to establish the value of an estate when [...]

An appraisal of real estate is the valuation of the rights of ownership. The appraiser must define the rights he intends to appraise. The appraiser does not create value, the appraiser interprets the market to arrive at a value estimate. As the appraiser compiles data pertinent to a report, consideration must be given to the [...]

A point, which equals 1% of the total loan amount, is an upfront fee that reduces your monthly interest rate and total interest due over the life of a loan. This means that a one point loan will always have a lower interest rate than a no point loan. Paying points is in essence a [...]

Closing costs are the actual expenses that the lender incurs in the origination of a new home loan. Some of the costs are related to your loan application, such as the expense of a credit report on all applicants. Other fees are related to the house itself, such as the property appraisal. Others are payment [...]

 
Increase
Decrease

Amount of Loan
Rates Up
Rates Down

Length of Loan
Rates Up
Rates Down

Adjustable Rate
Rates Down
Rates Up

Down Payment
Rates Down
Rates Up

Discount Points
Rates Down
Rates Up

Closing Costs
Rates Down
Rates Up

Credit Quality
Rates Down
Rates Up

Income Level
Rates Down
Rates Up

Lock In Period
Rates Up
Rates Down

The amount of your loan can increase your interest rate if the amount financed exceeds the conforming loan limits established by Fannie Mae and Freddie [...]

OKthe first thing that you don’t do is panic.. you need to start asking the loan officer and or mortgage company or bank, what the main reason is as to why you aren’t getting approved for the loan. most problems can be fixed within a few seconds, while others may not be able to be fixed.. the [...]

there is no doubt in my mind, that times are tough out there. I think the theme of this week is save your money. If you haven’t done so already, have your employer set up a forced savings plan and/or set one up yourself. The reason as to why now is a great time to [...]

another set in our series of “help yourself” blogs.. If you have become a selfless victim of getting into credit card debt the first thing that you should do is stop and evaluate your situation. Get a list together of all of your creditors as well as a list of the balances owed to them, [...]

well if you are this person.. there is great news for you.. there are many programs out there today that will be able to help you get into your dream home with as little as 3% to 5% of a down payment. Pending the fact that the credit markets have been tightening over the last [...]

The correct emotion at this state of the game should be “oh oh”. Grab your ducks in line and find out exactly if and when things are going down. Find out when your loan is set to adjust, and what it will adjust to. Believe it or not, your lender will have all of that [...]