Profile picture for JaredLStrawderman

I have a 10 yr ARM at 6.5% on a $750K loan in SF. My LTV ratio range is 71-86%? Should I appraise?

I have a 10 yr interest only ARM at 6.5% on a Jumbo loan ($750K) in San Francisco.  People say that I could get a better rate if my loan to value ratio is lower.  I bought the property in Sept. 2007 for $950K.  Zillow has it listed at $870K, but our realtor says it should appraise around $1,050,000 according to comps in the area.  Should I invest in an appraisal to get a better rate?
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
January 15 2009 - Glen Park
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (2)

Best Answer
Jared, don't order an appraisal! If you go forward with the loan most lenders require an approved appraiser. Not all appraisers are approved with all lenders. To receive a good rate your property needs to come in at or below 75% loan to value (LTV). ... Good luck.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
January 15 2009
PS: I'm referring to a super jumbo, not what Michael mentioned.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
January 15 2009
 
Related Questions
I have a 10 yr ARM at 6.5% on a $750K loan in SF. My LTV ratio range is 71-86%? Should I appraise?
Profile picture for Rudi Hofmann
Latest answer by Rudi Hofmann
January 15 2009 | 2 answers
  • Asked by JaredLStrawderman
  • In Refinance
  • January 15 2009
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 13 Ora Way, San Francisco, CA Home For Sale
    13 Ora Way, San Francisco, CA 94131

     For Sale: $1,995,000

    • Beds: 4
    • Sqft: 2500
    • Baths: 3.0
    • Lot: 2796
  2. 485 Chenery St, San Francisco, CA Home For Sale
    485 Chenery St, San Francisco, CA 94131

     For Sale: $1,095,000

    • Beds: 0
    • Sqft: 2135
    • Baths: --
    • Lot: 2495
  3. 50 Mirando St, San Francisco, CA Home For Sale
    50 Mirando St, San Francisco, CA 94112

     For Sale: $1,295,000

    • Beds: 4
    • Sqft: 1865
    • Baths: 3.0
    • Lot: 1916