Why can't a lender tell you if you are approved for your loan before making you pay for the appraisal?

11/24/2015Steve - you should be able to be " conditionally " approved before having an appraisal completed ..... feel free to email or call me with any questions ..thanks Dave Skow Eagle Home Mortgage 206 714 9745 daveskow@eaglehm.com

They can. You need to work with a better lender.

An appraisal is a condition of your approval. They can't fully approve you, because they haven't fully verified value yet. You should be able to go thru the underwriting process for free (some lenders quicker than others) then see under what 'conditions' the underwriter is willing to approve your loan. One of those conditions will be the appraisal. I hope that helps!

Steve. My name is Kyle Stancato and I live in University Place and my office is just down the street. I own Bayview Home Loans and I can answer all of your questions. You definitely should be approved before you order or pay for an appraisal. Give me a call.253-460-6000