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How much is my home worth. I need to refinance and I've been told i can't.

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November 06 2011 - Miami
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November 21 2011
Good Morning,
I have to agree with Sunnyview, do NOT use the Zestimate as your value indicator, as it will not take into consideration on the condition and features you home may have. Your first step can be to have a local realtor provide you with a Comparative Market Analysis, which will give you a much better idea as to the value of your home. With that said, the market analysis is not as in depth as an appraisal, but if done correctly it will give you a very good idea of the current market value of your home. With that in hand, you can contact a loan officer and provide him/her with the market anaylysis and they would be able to give you an idea of what the possibilites are for you to refinance. Please feel free to contact me, and I would be happy to send you a market analysis at no cost to you, and you can have it via email for your review and forwarding to the loan officer. Good luck.
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November 08 2011
Profile picture for sunnyview
Do not rely on the Zestimate for your value or a bank AVM. Ask a local agent in your area for a CMA to se if you might be able to qualify for a refi before you offer to pay for one at the bank.

If you have the comps and recent sales to support the amount you need, then you can go back to the bank. Have you considered looking into a HARP refi? If you qualify that might give you a larger LTV to work with. Ask a good lender what your options are.
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November 06 2011
If the "Zestimate" indicates a value that would support a refinance then you have to ask yourself whether or not you're willing to pay for an appraisal with the risk that the value won't support your required loan amount. You should really consult with a trustworthy loan officer and he/she would be able to measure that risk with you. I'm also curious why you've been told you can't refinance.
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November 06 2011
Profile picture for wetdawgs
Have you been told the reason you can't refinance?  

You can pull up a Zestimate by typing your address into the box on the home page, or clicking on "homes" in the top line of this page --> type in your address ---> click on "go".     Here's the FAQ "What is a Zestimate?" (it is not an appraisal)
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November 06 2011
 
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