Profile picture for Stormhealer

does your loan depend on appraisal of house?

  • November 18 2009 - Wayne
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    0Yes

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Answers (3)

Best Answer

There are 3 main factors involved in the mortgage qualification process are:
1. Credit
2. Income
3. Equity in the home

If you are refinancing a home and the value has been lowered in this market, you may qualify for Fannie Mae Refi Plus Program or Freddie Mac Home Path Program.

  • November 18 2009
  • 0Yes

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Profile picture for Liberty Mortgage
The only time no appraisal is needed is if you are doing a refinance and the loan you are getting is an FHA streamline refinance or a VA IRRRL.  If those are not the parameters of the financing, then an appraisal must be done.
  • November 24 2009
  • 0Yes

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short answer.......yes. Since the lender is lending you money base on the asset with is the home.
  • November 18 2009
  • 0Yes

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