On most loans, an appraisal is needed unless you are doing a streamline refinance, where certain requirements may not call for one. From a cash-out perspective, all loans will require an appraisal. Appraisals are ordered only through the lender as there are tight guidelines that the individual doing the order must meet and be approved by that lender.
Most loans will require an appraisal.
Unless you are doing a streamline refinance, you will generally need to get an appraisal completed.
Yes.. you cannot do a "Cash Out" refinance without an appraisal.. if you were just doing a "rate and term" refinance, then there are loan products which don't require an appraisal, but all cash out refi's do.. 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
I wish I could meme this. If I could I would write, You're Doing It Wrong with some funny picture. :)
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