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Any no appraisal loans available for AAA borrower?

I am currently trying to do a refi with Wells Fargo.  My current loan is 6.5% 30 yr fixed for 850,000.  My balance is 775,000 due to some prepaying of the mortgage since getting it in 2007.  I fear the appraisal will be low due to total lack of comps in my area.  I live on 12 acres and no homes have sold in town over 500k for 12 months plus.  My FICO came back 802 and my debt to income is around 20.  I can pay down the mortgage about 100k more.  Are there any nitch lenders waving appraisals to grab up people like me?

  • May 01 2010 - US
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Answers (2)

Doubtful with a loan amount that size most lenders will require 2 appraisals.
  • May 01 2010
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I meant niche.
  • May 01 2010
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