can i get a va cashout refi without having appraisal?
i see the option for streamline no appraisal, but what about cashout? does it matter? the equity ive paid is the equity ive paid, if that makes sense. i'd like to forego the appraisal if possible, can anyone do that? by ginasandoula894353 from Fort Pierce, Florida. Dec 10th 2014
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
No.... Streamline refi's will work without an appraisal with most lenders since your only refinancing the remaining balance.. but when you add to the loan via cash out, an appraisal will be required every time for every loan product.. no exceptions.. Also understand that your cash out will be limited to its' current value not what it was worth when you bought it.. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com
Dave Metsker (DaveMetsker)
#35 ranked lender in Oregon - 2,318 contributions
If you want cash out, you will need an appraisal.
Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,249 contributions
All cash out loans require an appraisal, the value is what the home is worth today not what you originally paid for it. I can go to 100% of the current appraised value and loan in FL: pdumouchel@primelending.com or 843-619-6025 http://pdumouchel.primelending.com **PrimeLending was #4 purchase mortgage lender in the US in 2012 and 2013 as determined by MarketTrac(c) for Jan-Dec 2012 & 2013
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