REFI. ADVICE

If you current loan is a VA, an FHA or a HARP eligible conventional, then an appraisal probably won't be necessary. If your loan is not one of the above, then you are going to have to get an appraisal. A lack of recent comparables may make obtaining value difficult. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

We would really need to know what type of loan product you have.. FHA, VA, Conventional.. FHA has a streamline available with no appraisal, as does VA... conventional has HARP 2.0 which might not require an appraisal.. but the rates and eligibility requirements are different for all of these products.. The best advice I can give you is to contact a LOCAL mortgage broker, not the local "Big" bank, and certainly not one of those 50 states internet lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Hello Hollis, As a lender I would need to know if you are in a conventional loan or FHA or VA. There are several options depending on your loan type. VA and FHA have a streamline process that many times does not require an appraisal and if we need to have one done I have lenders that will allow a loan to value as high as 115% with VA and FHA. If you are conventional your loan may fit into the HARP 2.0 program which does not require and appraisal. There are other options if you dont fit into any of these programs like Lender paid Mortgage insurance etc. Give me a call if you want to discuss your options with me. 719-228-6055 or my cell 719-650-2216